Smith & Wesson gets $115 million amended and restated credit facility

By Sara Rosenberg

New York, Dec. 9 - Smith & Wesson Holding Corp. closed on a $115 million amended and restated four-year revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

TD Securities acted as the lead arranger, bookrunner and administrative agent on the deal that was completed on Dec. 7.

Initial pricing is Libor plus 250 basis points with a 37.5 bps unused fee. Pricing can range from Libor plus 225 bps to 350 bps and the unused fee can range from 25 bps to 75 bps based on leverage.

Financial covenants include a minimum consolidated fixed-charge coverage ratio and a maximum consolidated leverage ratio.

Smith & Wesson is a Springfield, Mass.-based designer and constructer of facility perimeter security services for military and commercial applications, and provider of firearms and related training to the military, law enforcement and sports markets.

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