Bank of America Corp. (BAC) will lend $43.2 million to Remington Arms, an assault rifle manufacturer.
The loan was pledged in March before the bank announced its plan to pull out from financing companies that produce "military-style" guns. Reuters noted, upon reviewing bankruptcy court documents, that Bank of America could pull out of the agreement but could face legal consequences if it doesn't finance Remington.
Remington is the maker of the Bushmaster rifle, the gun used in the Sandy Hook Elementary school shooting in 2012.
Bank of America shares were up 0.6% in premarket trading.