General Cable Corporation (BGC) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
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Entry Into A Material Definitive Agreement.
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On November 8, 2016, General Cable Corporation (the Company)
provided notice (the Notice) to JPMorgan Chase Bank, N.A., as
Administrative Agent, and J.P. Morgan Europe Limited, as European
Administrative Agent of its election to permanently reduce the
aggregate commitments under the Amended and Restated Credit
Agreement, dated as of September 6, 2013, as amended, by and
among the Companys principal U.S. operating subsidiary General
Cable Industries, Inc., a Delaware corporation (U.S. Borrower),
General Cable Company Ltd., a company organized under the laws of
Nova Scotia (Canadian Borrower), Silec Cable SAS, a French socit
par actions simplifie (Silec), Norddeutsche Seekabelwerke GmbH, a
limited liability company (Gesellschaft mit beschrnkter Haftung)
existing under the laws of Germany (Norddeutsche), Grupo General
Cable Sistemas, S.L., a public limited liability company
organized under the laws of Spain (Sistemas and collectively with
Silec and Norddeutsche, the European Borrowers), the Company and
those certain other subsidiaries of the Company party thereto as
guarantors, the several lenders and financial institutions party
thereto (Lenders), JPMorgan Chase Bank, N.A., as Administrative
Agent, and J.P. Morgan Europe Limited, as European Administrative
Agent. The Notice is filed as Exhibit 10.1 hereto and
incorporated herein by reference.
provided notice (the Notice) to JPMorgan Chase Bank, N.A., as
Administrative Agent, and J.P. Morgan Europe Limited, as European
Administrative Agent of its election to permanently reduce the
aggregate commitments under the Amended and Restated Credit
Agreement, dated as of September 6, 2013, as amended, by and
among the Companys principal U.S. operating subsidiary General
Cable Industries, Inc., a Delaware corporation (U.S. Borrower),
General Cable Company Ltd., a company organized under the laws of
Nova Scotia (Canadian Borrower), Silec Cable SAS, a French socit
par actions simplifie (Silec), Norddeutsche Seekabelwerke GmbH, a
limited liability company (Gesellschaft mit beschrnkter Haftung)
existing under the laws of Germany (Norddeutsche), Grupo General
Cable Sistemas, S.L., a public limited liability company
organized under the laws of Spain (Sistemas and collectively with
Silec and Norddeutsche, the European Borrowers), the Company and
those certain other subsidiaries of the Company party thereto as
guarantors, the several lenders and financial institutions party
thereto (Lenders), JPMorgan Chase Bank, N.A., as Administrative
Agent, and J.P. Morgan Europe Limited, as European Administrative
Agent. The Notice is filed as Exhibit 10.1 hereto and
incorporated herein by reference.
The Notice reduces, effective November 15, 2016, the aggregate
commitments of the Lenders by $300 million, with the remaining
maximum aggregate commitments totaling $700 million, $441 million
of which may be borrowed by the U.S. Borrower, $210 million of
which may be borrowed by the European Borrowers and $49 million
of which may be borrowed by the Canadian Borrower. The reduction
will be applied ratably among the Lenders in accordance with
their respective commitments.
commitments of the Lenders by $300 million, with the remaining
maximum aggregate commitments totaling $700 million, $441 million
of which may be borrowed by the U.S. Borrower, $210 million of
which may be borrowed by the European Borrowers and $49 million
of which may be borrowed by the Canadian Borrower. The reduction
will be applied ratably among the Lenders in accordance with
their respective commitments.
From time to time, in the ordinary course of their business,
certain lenders or their affiliates have provided, and may in the
future provide, financial advisory and investment banking
services to the Company and its affiliates, for which they have
received and may continue to receive customary fees and
commissions.
certain lenders or their affiliates have provided, and may in the
future provide, financial advisory and investment banking
services to the Company and its affiliates, for which they have
received and may continue to receive customary fees and
commissions.
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Item 9.01
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Financial Statements and Exhibits.
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(d)
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Exhibits
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Exhibit No.
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Description
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10.1
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Commitment Reduction Notice, dated November 8, 2016
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About General Cable Corporation (BGC)
