Freedom Group gets $180 million ABL revolver led by Wachovia

By Sara Rosenberg

New York, Aug. 4 - Freedom Group Inc. closed on a new $180 million four-year ABL revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

Wachovia is the agent on the deal that was completed on July 29.

Security is a first-lien on present and future accounts receivable, inventory and certain general intangibles, and certain other assets.

There is a $75 million accordion feature.

Proceeds were used to repay and redeem certain existing debt.

Freedom Group is a Madison, N.C.-based firearms company.

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