#Debt

Via a press release published earlier this month, German gunmaker Hecker & Koch announced it had reduced its financial debt to a mere €170 million (~$194 million US), thanks to an equity increase of €50 million via a capital shares increase. With this, the company will issue approximately 6.6 million new shares, backed up by a capital injection of €50 million, and assistance in refinancing its 9.5% Senior Secured Notes at significantly lower debt. According to the release:

Heckler & Koch announced on the 17th that the primary shareholder, Andreas Heeschen, has provided H&K’s GmbH’s parent company, H&K AG with 60 million Euros. The new shareholder loan is to assist with H&K GmbH’s cashflow and repayment of various outstanding loans.

The end we knew would come has finally begun. Colt Defense, LLC is set to file chapter 11 bankruptcy protection tomorrow, according to insider sources, reports marketwatch.com: