Brokers have released their thoughts on the new financing deal for Billabong (ASX: BBG). UBS, JPMorgan and Citi all maintain their Underperform or Sell ratings on the stock but find the new proposal superior the previous one. The brokers all noted the lower funding costs under the new deal as well as less dilution to the existing shareholders. However, risks remain for the company especially on the earnings front and achieving a solid turnaround in the company's business model.
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