Days after announcing that it had agreed to pay A$45 million to settle a class action, surfwear company Billabong had some good news to report. It has entered into a US$100 million credit facility with Bank of America Merrill Lynch. The asset-based lending agreement has a five-year term and replaces a GE Capital facility. The company said the new facility provided improved terms, greater flexibility and competitive rates. It said the deal was a reflection that it had made progress restructuring the troubled business over the past couple of years. Ernst & Young has signed on as a partner with the fintech hub Stone & Chalk. EY fintech leader for Australia Anita Kimber said EY would provide professional advice and support to Stone & Chalk members. "One of our aims is to help Stone & Chalk members create new relationships with financiers, customers, potential partners and acquirers," she said.