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| GXP > SEC Filings for GXP > Form 8-K on 8-Jun-2009 | All Recent SEC Filings |
8-Jun-2009
Termination of a Material Definitive Agreement, Financial Statements and
On June 4, 2009, KCP&L Greater Missouri Operations Company ("GMO"), a wholly owned subsidiary of Great Plains Energy Incorporated ("Great Plains Energy"), gave notice of termination of its Financing Agreement dated as of April 22, 2005, as theretofore amended (the "Financing Agreement") with Union Bank, N.A., as Agent and Lender, and Bank of America, N.A., as Lender, effective June 9, 2009. In the absence of the termination notice, the Financing Agreement would have terminated by its terms on July 22, 2009. GMO terminated the Financing Agreement in anticipation of the potential establishment of an accounts receivable securitization facility prior to July 22, 2009.
As of June 4, 2009, there were no loans outstanding, and a maximum of $50 million was available under the Financing Agreement. Loans carried interest at either a Base Rate plus 1.0% or LIBOR plus 2.0% (as those terms are defined in the Financing Agreement). Obligations under the Financing Agreement were secured by a lien on GMO's accounts receivable. Great Plains Energy guaranteed GMO's obligations under the Financing Agreement. Accrued fees of approximately $6,000 were paid on termination.
Union Bank, N.A., is syndication agent and a lender under a $400 million revolving credit agreement with GMO, and is trustee for $1.0 billion of GMO's secured and unsecured debt (including environmental improvement revenue refunding debt issued by certain governmental entities) under several separate indentures. Bank of America, N.A., is administrative agent and a lender under this revolving credit agreement, and also under separate credit agreements aggregating $1.0 billion with Great Plains Energy Incorporated and its subsidiary Kansas City Power & Light Company ("KCP&L). Affiliates of Union Bank, N.A., are also parties to an accounts receivable securitization facility with KCP&L. Union Bank, N.A. and Bank of America, N.A. and certain of their respective affiliates have provided and in the future may continue to provide investment banking, commercial banking and other financial services, including the provision of credit facilities, to Great Plains Energy and its affiliates in the ordinary course of business for which they have received and may in the future receive customary compensation.
(d) Exhibits
10.1 * Financing Agreement dated as of April 22, 2005, among Aquila, Inc., the lenders from time to time party thereto, and Union Bank of California, N.A., as agent (Exhibit 10.1 to Form 8-K filed by Aquila, Inc. on April 26, 2005).
10.2 * Amendment No. 2 to Financing Agreement dated December 9, 2006, by and among Aquila, Inc., the lenders from time to time party thereto, and Union Bank of California, N.A., as agent (Exhibit 10.1 to Form 8-K filed by Aquila, Inc. on December 11, 2006).
10.3 * Amendment to Financing Agreement dated June 10, 2008, by and among Aquila, Inc., the lenders from time to time party thereto, and Union Bank of California, N.A., as agent (Exhibit 10.1.3 to Form 10-Q for the quarter ended September 30, 2008).
10.4 * Amendment to Financing Agreement dated October 28, 2008, by and among
KCP&L Greater Missouri Operations Company, the lenders from time to time
party thereto, and Union Bank of California, N.A., as agent (Exhibit
10.1.60 to Form 10-K for the year ended December 31, 2008).
10.5 * Amendment to Financing Agreement dated April 16, 2009, by and among KCP&L
Greater Missouri Operations Company, the lenders from time to time party
thereto, and Union Bank, N.A., as agent (Exhibit 10.1.5 to Form 8-K filed
on April 22, 2009).
10.6 * Guaranty dated as of July 14, 2008, between Great Plains Energy
Incorporated and Union Bank of California, N.A. (Exhibit 10.1 to Form 8-K
filed on July 18, 2008).
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* Incorporated by reference.
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