Remington Arms repays $24 million of bank debt, reduces commitment

New York, Feb. 11 - Remington Arms Co., Inc. said it repaid $24.0 million of borrowings under its credit agreement and reduced the available commitments to $101.1 million from $125.0 million.

The facility was also amended to decrease the minimum required availability to $20 million from $40 million, and the lenders extended their consent for $5 million of note repurchases to Dec. 31, 2005 from Dec. 31, 2004.

The repayment and amendment were effective Feb. 8, according to an 8-K filing with the Securities and Exchange Commission Friday. Wachovia Bank, NA is agent for the facility.

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