form8k.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 14, 2011
Universal Forest Products, Inc.
(Exact name of registrant as specified in its charter)
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0-22684 |
38-1465835 |
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(State or other Jurisdiction
of Incorporation)
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(Commission File Number)
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(IRS Employer Identification
No.)
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| 2801 East Beltline, NE |
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| Grand Rapids, Michigan |
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49525 |
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(Address of Principal Executive Offices)
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(Zip Code)
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Registrant's telephone number, including area code: (616) 364-6161
None
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).
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Item 1.01
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Entry into a Material Definitive Agreement.
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On November 14, 2011, the Registrant and certain of its wholly-owned subsidiaries entered into a five-year, $265 million unsecured revolving credit facility with a syndicate of U.S. and Canadian banks led by JPMorgan Chase Bank, N.A., as administrative agent and Wells Fargo Bank, N.A., as syndication agent. The facilities include up to $75 million which may be advanced in the form of letters of credit, and up to $100 million (U.S. dollar equivalent) which may be advanced in Canadian dollars, pounds Sterling, Euros and such other foreign currencies as may subsequently be agreed upon among the parties. This facility replaced our $300 million unsecured revolving credit facility. There were no borrowings outstanding on that revolving credit facility as of November 14, 2011, exclusive of supported Letters of Credit aggregating approximately $31 million. Cash borrowings are charged interest based upon an index elected by the Registrant, plus a margin that is determined based upon the index selected and upon the financial performance of the Registrant and certain of its subsidiaries. The Registrant is charged a facility fee on the entire amount of the lending commitment, at a per annum rate ranging from 15 to 35 basis points, also determined based upon the Registrant's performance. The facility fee is payable quarterly in arrears.
A copy of the Credit Agreement is attached as Exhibit 10(i) to this Current Report.
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Item 9.01
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Financial Statements, Pro Forma Financial Information, and Exhibits
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(c) Exhibits
10(i) Credit Agreement dated November 14, 2011
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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UNIVERSAL FOREST PRODUCTS, INC.
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(Registrant) |
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By:
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/s/ Michael R. Cole |
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Michael R. Cole, Chief Financial Officer |
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and Treasurer |
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EXHIBIT INDEX
| Exhibit Number |
Document |
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| 99(a) |
Credit Agreement dated November 14, 2011. |
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