Remington Outdoor Company emerges from chapter 11

From the Shooting Wire: After successfully implementing the plan previously confirmed by Delaware bankruptcy court, Remington Outdoor Company has emerged from its Chapter 11 bankruptcy proceeding. The company says the plan converts over $775 million of previous debt into equity, provides a new Asset Based Loan of $193 million, the proceeds of which proceeds will refinance its prior ABL in full, a new $55 million First-In, Last Out Term Loan and a new $100 million Term Loan. Additionally, an integral part of the plan all “trade and business claims” are unimpaired and will be addressed in the company’s “normal course of business.”