Profile image
Story Views

Last Hour:
Last 24 Hours:

Lenders offer to double Smith & Wesson credit

Monday, October 31, 2016 7:03
% of readers think this story is Fact. Add your two cents.

Lenders offered to more than doubled gun maker Smith & Wesson’s revolving line of credit by upping the limit to $500 million, according an announcement Monday.

Jeffrey D. Buchanan, Smith & Wesson’s chief financial officer, called the expansion of its credit line reflects lenders’ confidence in the overall business.

Smith & Wesson’s credit line has been boosted from $175 million to $350 million and lenders left options on the table for at least $100 million more. The total options would boost the company’s credit limit to half a billion, according to the announcement.

For the past two years, the Connecticut company has been diversifying its product offerings to include outdoor goods and gun accessories in addition to firearms.

While the gun maker has been reporting positive results — a 40-percent increase in earnings for its first quarter — its stock price slumped by about $2 per share in September and has yet to fully recover.

The fall in price per share was due investors responding to the U.S. Army rejecting Smith & Wesson’s bid to replace military handguns, a contract valued at $580 million.

The post Lenders offer to double Smith & Wesson credit appeared first on


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global


Top Alternative




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.