Remington Arms gets lender consent to tweak availability condition

By Sara Rosenberg

New York July 7 - Remington Arms Co. Inc. entered into a consent agreement with lenders, allowing it to temporarily use a suppressed availability calculation to satisfy the minimum availability condition of $10 million for the period from June 30 through Sept. 30, according to an 8-K filed with the Securities and Exchange Commission Thursday.

Wachovia Bank is the agent on the deal.

The consent agreement was executed June 30.

Remington is a Madison, N.C., designer, producer and seller of sporting goods products for the hunting, shooting sports and fishing markets.

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