RAIL » Topics » Item 1.02 Termination of a Material Definitive Agreement

This excerpt taken from the RAIL 8-K filed May 31, 2005.

Item 1.02 Termination of a Material Definitive Agreement

 

On May 26, 2005, FreightCar America, Inc. (the “Company”) repaid the aggregate principal amount and accrued interest outstanding under the industrial revenue bonds that were issued on December 12, 1995 by its subsidiary Freight Car Services, Inc. (“Freight Car Services”). The aggregate amount outstanding was repaid with proceeds from the Company’s initial public offering, which closed on April 11, 2005. The industrial revenue bonds bore interest at a weekly variable rate and were scheduled to mature on December 1, 2010. As a result of this repayment, the obligations of Freight Car Services under the Loan Agreement by and between Freight Car Services and the City of Danville, Illinois, dated as of December 1, 1995, and the related promissory note were terminated, effective May 26, 2005.

 

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

       

FreightCarAmerica, Inc.

    Date: May 31, 2005       By:   /s/ Kevin P. Bagby
            Name:  

Kevin P. Bagby

            Title:  

Vice President, Finance, Chief Financial Officer, Treasurer and Secretary

 

 

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This excerpt taken from the RAIL 8-K filed May 2, 2005.

Item 1.02 Termination of a Material Definitive Agreement.

 

On April 26, 2005, FreightCar America, Inc. (the “Company”) repaid the aggregate principal amount outstanding under its 15% Senior Notes due June 30, 2008 (the “Amended Senior Notes”), plus accrued interest, with proceeds from the Company’s initial public offering of common stock, which closed on April 11, 2005. The amount repaid included all outstanding senior notes issued as payment-in-kind notes for interest on the Amended Senior Notes. As a result of this repayment, the Company’s obligations under the Purchase Agreement, dated as of June 3, 1999, between its former parent company, JAC Holdings International, Inc. (then known as Rabbit Hill Holdings, Inc.), and Caravelle Investment Fund, L.L.C. (“Caravelle”), Hancock Mezzanine Partners L.P. and John Hancock Life Insurance Company (then known as John Hancock Mutual Life Insurance Company), as amended, and the Amended Senior Notes were terminated. In November 2003, Caravelle, which is an affiliate of one of the Company’s directors, Jay R. Bloom, transferred all of its interest in the Amended Notes to affiliates of GoldenTree Asset Management, L.P.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

   

FreightCar America, Inc.

Date: May 2, 2005

 

By:

 

/s/ Kevin P. Bagby


   

Name:

 

Kevin P. Bagby

   

Title:

 

Chief Financial Officer

 

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EXCERPTS ON THIS PAGE:

8-K
May 31, 2005
8-K
May 2, 2005
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