BofA Supports Remington Restructuring

Remington Outdoor reached a restructuring support agreement (RSA) with creditors holding a majority of the FGI Operating Company term loans due in 2019 and 7.875% senior secured notes due in 2020. According to an SEC filing, Bank of America, as administrative agent, reached a forbearance agreement with the company for the term B loans. Reuters reported that Cerberus Capital Management will lose ownership of the 200-year old arms and ammunition company as a result of Remington’s financial woes