Smith & Wesson (SWHC) Credit Facility Raised to $500M

October 31, 2016 8:02 AM EDT
Get Alerts SWHC Hot Sheet
Trade SWHC Now!
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

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."

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News

Add Your Comment