Smith & Wesson (SWHC) Credit Facility Raised to $500M
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Smith & Wesson Holding Corporation (NASDAQ: SWHC) announced that its lenders have expanded the company's existing revolving line of credit to $350 million from $175 million and have increased the company's option to further expand its credit commitment to $150 million from $50 million. The amendments provide the company with an increase in overall credit availability to $500 million from $225 million. The credit facility remains unsecured.
"The successful growth of our business has allowed us to build an exceptionally strong balance sheet, providing us with a variety of options to invest in our future growth, both organically and inorganically, and execute our strategy to become the leading provider of quality products for the shooting, hunting, and rugged outdoor enthusiast," said Jeffrey D. Buchanan, Executive Vice President and Chief Financial Officer of Smith & Wesson Holding Corporation. "The expansion of our unsecured credit line is a clear reflection of the confidence our lenders have in Smith & Wesson and the overall strength of our business."
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