Nortel Networks 8-K 2009
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) June 18, 2009
NORTEL NETWORKS CORPORATION
(Exact name of registrant as specified in its charter)
Registrants telephone 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):
Item 1.01. Entry into a Material Definitive Agreement.
On June 18, 2009, the registrants principal operating subsidiary, Nortel Networks Limited (NNL), entered into a further amendment to its agreement with Export Development Canada (EDC), which agreement was initially announced on January 14, 2009, as well as a cash collateral agreement. The amendment includes, among other things, that NNL provide cash collateral of US$6.5 million for all outstanding post-petition support in accordance with the terms of the cash collateral agreement, and that continued access by NNL to its EDC performance-related support facility is in the sole discretion of EDC, subject to the terms of the amendment and cash collateral agreement. The amendment also provides, upon delivery of the cash collateral which is subject to approval by the Canadian court, that the charge over certain of Nortels assets in favour of EDC will no longer be in force or effect. The amendment of the support facility and the cash collateral agreement are subject to approval by the Canadian Court.
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: June 19, 2009