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Remington secures 7 loans, one from NC bank that pledged to cut back on gun maker lending

GREENSBORO.COM May 8, 2018 – Three prominent North Carolina banks have agreed to provide 54 percent of the debtor-in-possession financing to Remington Outdoor Co. to aid its exit from Chapter 11 bankruptcy protection by the end of May. According to bankruptcy court records, Bank of America Corp. and Wells Fargo & Co. are among three banks providing $43.23 million, while BB&T Corp. is among three banks providing $18.62 million. Altogether, seven financial institutions are supplying $193 million.  [full article]

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