Item 1.01 Entry into a Material Definitive Agreement.
On July 20, 2009, Spartech Corporation (the "Company") amended its bank credit
facility and senior notes to provide additional flexibility to continue
executing its improvement initiatives. The amendments allow for additional
restructuring activities and eliminate restrictions on the sale of assets that
will facilitate divestitures of its non-core businesses.
A copy of these amendments and the consent to release the collateral agent's
security interest in all assets of certain subsidiaries in connection with a
sale are furnished with this report as exhibits 10.1, 10.2, 10.3 and 10.4 and
incorporated by reference.
Item 7.01 Regulation FD Disclosure
On July 23, 2009, the Company issued a press release announcing these
amendments. A copy of the press release is furnished with this report as
Exhibit 99.1 and incorporated by reference.
Forward-Looking Statements
This current report on Form 8-K may contain forward-looking statements that are
based on management's expectations and beliefs concerning future events
impacting the Company. Certain matters contained herein are based upon
information available to management as of the date hereof. These forward-looking
statements are only predictions and are subject to risks, uncertainties and
assumptions that are difficult to predict. As a result, actual results may
differ materially and adversely from those expressed in any forward-looking
statement. Factors that may cause such a difference include, but are not limited
to, risks and uncertainties described in the Company's annual and quarterly
reports on Form 10-K and 10-Q filed with the Securities and Exchange Commission.
The Company undertakes no obligation to revise or update publicly any
forward-looking statements, except as required by law.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number Description
10.1 Fourth Amendment to Fourth Amended and Restated Credit Agreement
10.2 Amendment No. 1 to Amended and Restated Note Purchase Agreement - 2004
Senior Notes
10.3 Amendment No. 1 to Amended and Restated Note Purchase Agreement - 2006
Senior Notes
10.4 Consent to Release the Collateral Agent's Security Interest in All Assets
of Certain Subsidiaries in Connection with a Sale
99.1 Press release of Spartech Corporation dated July 23, 2009
|