Quiksilver, Inc. (NYSE:ZQK) today announced that it has entered into an agreement with its European banking partners to consolidate its European debt obligations, including previously uncommitted lines of credit, into a new committed 4-year facility consisting of €170 million in term loans, a letter of credit facility with a capacity of €40 million and a €58 million revolving line of credit. The European facility is subject to customary closing conditions and is expected to close before the end of September. As part of its commitment, the European bank group has extended the maturity of a €55 million line of credit, which will be absorbed into the new facility, to accommodate the expected closure date of the transaction.