The DE bankruptcy court confirmed a $50 million and $25 million DIP financing package for the gun-maker as part of a restructuring agreement negotiated with its lenders that will convert $775 million in debt into equity and ultimately provide exit financing to Remington for an expected exit from Chapter 11 later this Spring. The financing will allow Remington to continue operating under Chapter 11 protection while paying its vendors and other stakeholders in full. Most of the bondholders have already approved the restructuring plan, and the court also approved a method that allows bondholders who held some of the publicly ... Log in to view full article.