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UTIW > SEC Filings for UTIW > Form 8-K on 6-Feb-2014All Recent SEC Filings

Show all filings for UTI WORLDWIDE INC



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

Item 1.01. Entry into a Material Agreement.

Effective January 31, 2014, UTi Worldwide Inc.'s (the "Company") subsidiary in Germany, UTi Deutschland GmbH ("UTi Deutschland"), entered into Supplement No.1 to the Contract Concerning a Credit Line (the "Supplement") which amends the Credit Agreement dated January 25, 2013 between UTi Deutschland and Commerzbank AG (the "Existing Agreement"). The Supplement extended the term of the Existing Agreement from January 31, 2014 to April 30, 2014 and confirmed the imposition of a fee of .1% on the unused portion of the credit facility during the extended term. Except as amended by the Supplement, the terms of the Existing Agreement remain in effect.

For a description of certain material terms of the Existing Agreement prior to the Supplement, see the disclosures concerning the Existing Agreement set forth under the caption "Management's Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources - Credit Facilities and Senior Notes - Bank Lines of Credit" found in Part I. Item 2 of the Company's Form 10-Q filed with the Securities and Exchange Commission on December 10, 2013.

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

To the extent required by Item 2.03 of Form 8-K, the information contained in (or incorporated by reference into) Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 2.03.

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