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CFX > SEC Filings for CFX > Form 8-K on 19-Nov-2013All Recent SEC Filings

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Form 8-K for COLFAX CORP


19-Nov-2013

Regulation FD Disclosure


Item 7.01 Regulation FD Disclosure.

In connection with the Third Amendment to the credit agreement entered into on November 7, 2013 by and among Colfax Corporation (the "Company"), Colfax UK Holdings Ltd, the other subsidiaries of the Company party thereto, the lenders party thereto and Deutsche Bank AG New York Branch, as administrative agent, and as reported on the Company's Form 8-K filed with the Securities and Exchange Commission (the "SEC") on November 14, 2013 (the "Third Amendment"), the Company expects to incur a non-cash charge of approximately $27 million in the 2013 fourth quarter. This non-cash charge is primarily due to the write-off of the original issue discount and deferred costs associated with the complete repayment of the term B facility. We expect to exclude this non-cash charge from adjusted net income and adjusted earnings per share.

Interest expense for the fourth quarter of 2013 is not expected to be materially different from amounts reflected in the Company's guidance updated on October 24, 2013, as the cash costs incurred with third parties associated with the Third Amendment largely offset the savings from the lower borrowing rates.

For 2014, assuming borrowing levels reflected in the Company's quarterly report on Form 10-Q for the period ended September 27, 2013 filed with the SEC on October 24, 2013, the refinancing is expected to save approximately $10 million in cash interest, and an additional approximately $5 million in non-cash interest charges due to the write-off discussed in the first paragraph above.

Further, the Company has completed its preliminary acquisition fair-value accounting for the acquisitions in 2013 closed to date and the Global Infrustructure and Industry Business of Flškt Woods, which is expected to close at the end of November. Amortization associated with the fair value adjustments (not including normal depreciation of plant and equipment) is expected to be approximately $12 million for 2014.


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