Quiksilver's European Boardriders subsidiary is offering to exchange €200 million worth of outstanding 8.875% senior notes due in 2017 with a new package of 9.500% senior notes due in 2020, plus cash, in order to reduce its indebtedness. The new package eliminates restrictive covenants and certain default terms associated with the old notes. The exchange offer expires on March 9, unless it is extended.

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