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BLK > SEC Filings for BLK > Form 8-K on 3-Apr-2013All Recent SEC Filings

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Form 8-K for BLACKROCK INC.


3-Apr-2013

Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligat


Item 1.01 Entry Into a Material Definitive Agreement.

On March 28, 2013, BlackRock, Inc. ("BlackRock") and certain of its subsidiaries entered into Amendment No. 2 ("Amendment No. 2") to its Five-Year Revolving Credit Agreement, dated as of March 10, 2011, as amended by Amendment No. 1 thereto, dated as of March 30, 2012 (the "Existing Credit Agreement"), with Wells Fargo Bank, National Association, as administrative agent, swingline lender, issuing lender, L/C agent and a lender, and the banks and other financial institutions referred to therein.

Pursuant to Amendment No. 2, BlackRock (i) extended the maturity date (the "Maturity Date") of the revolving credit facility under the Existing Credit Agreement (the "Revolving Facility") to March 28, 2018 without utilizing BlackRock's option to request extensions of the Maturity Date available under the Existing Credit Agreement and (ii) increased the commitment size of the Revolving Facility from $3,785,000,000 to $3,990,000,000 without utilizing the $1,000,000,000 incremental commitment capacity available under the Existing Credit Agreement. Except as modified by Amendment No. 2 as described herein, the terms of the Revolving Facility remain the same.

For a description of certain relationships and related transactions between BlackRock and Bank of America, N.A. and its affiliates, see the section entitled "Certain Relationships and Related Transactions" in BlackRock's definitive Proxy Statement on Schedule 14A filed April 11, 2012 with the Securities and Exchange Commission. In addition, some of the financial institutions party to Amendment No. 2 and their affiliates have provided, and may in the future provide, investment banking, commercial lending, financial advisory and other services for BlackRock, and have received customary fees and expenses for these services.

The foregoing description of the terms and conditions of Amendment No. 2 is not complete and is in all respects subject to the actual provisions of Amendment No. 2, a copy of which has been filed as Exhibit 10.1 to this Current Report on Form 8-K and which is incorporated by reference herein.



Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information included in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits.

(d)      Exhibits

Exhibit Number   Description
     10.1        Amendment No. 2, dated as of March 28, 2013, by and among
                 BlackRock, Inc., certain of its subsidiaries, Wells Fargo
                 Bank, National Association, as administrative agent,
                 swingline lender, issuing lender, L/C agent and a lender,
                 and the banks and other financial institutions referred to
                 therein.


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