In an announcement released on 6 July 2017, Heckler & Koch, a leading small arms manufacturer, has a planned recapitalization that will reduce its senior debt to € 170 million. Once complete, the company will issue an additional 6.6 million shares that will increase capital investment by at least € 50 million. Formal acceptance of the company’s recapitalization plan is expected at the upcoming shareholder’s meeting scheduled for August 2017. Under the proposed recapitalization plan the company expects to refinance its 2011 9.50% Senior Secured Notes.