May 2, 2018 / 11:27 PM / 5 months ago

BRIEF-Remington Outdoor Company's Plan Of Reorganization Confirmed By The Court

May 2 (Reuters) - Remington Outdoor Company Inc:

* REMINGTON OUTDOOR COMPANY PLAN OF REORGANIZATION CONFIRMED BY THE COURT

* REMINGTON EXPECTS TO EMERGE FROM BANKRUPTCY BEFORE END OF MAY

* UNITED STATES BANKRUPTCY COURT FOR DISTRICT OF DELAWARE CONFIRMED COMPANY'S PLAN OF REORGANIZATION

* PLAN RECEIVED SUPPORT FROM OVER 98 PERCENT OF VOTING TERM LOAN LENDERS AND ALL OF VOTING THIRD LIEN NOTEHOLDERS

* REMINGTON OUTDOOR COMPANY- PLAN, A BALANCE SHEET RESTRUCTURING, WILL CANCEL OVER $775 MILLION IN DEBT WHILE ALL TRADE AND BUSINESS CLAIMS ARE HONORED

* REMINGTON OUTDOOR COMPANY- UPON EMERGENCE, REMINGTON WILL HAVE A NEW ASSET BASED LOAN FACILITY OF $193 MILLION

* IN ADDITION, COMPANY WILL HAVE A $55 MILLION FIRST-IN, LAST-OUT TERM LOAN AND A NEW $100 MILLION TERM LOAN Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below