Nortel Networks 8-K 2007
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) DECEMBER 18, 2007
NORTEL NETWORKS CORPORATION
(Exact name of registrant as specified in its charter)
Registranttelephone number, including area code 905-863-7000
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement
On December 17, 2007, the registrant announced that its principal operating subsidiary, Nortel Networks Limited (NNL), has amended its master facility agreement (Facility) with Export Development Canada (EDC) to (i) extend the termination date of the Facility to December 31, 2011, (ii) provide for automatic annual renewal of the Facility each following year, unless either party provides written notice to the other of its intent to terminate, and (iii) increase the maximum size of individual bonds supported under the committed portion of the Facility from US$10 million to US$25 million.
The total Facility is maintained at US$750 million, including US$300 million of committed support for performance bonds and similar instruments. As of November 30, 2007, there was approximately US$144 million of outstanding support utilized under the Facility, of which approximately US$89 million was outstanding as committed support and US$55 million as uncommitted support.
Item 9.01 Financial Statements and Exhibits
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 hereunto duly authorized.
Dated: December 18, 2007