Rockwell Collins 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):
March 7, 2007
Rockwell Collins, Inc.
(Exact name of registrant as specified in its charter)
Registrants telephone number, including area code: (319) 295-1000
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.
INFORMATION TO BE INCLUDED IN THE REPORT
Item 1.01. Entry into a Material Definitive Agreement.
The information set forth under Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant is incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
On March 7, 2007, we entered into Amendment No. 1 (the Amendment) to the $850,000,000 five-year unsecured revolving credit agreement among us, the Banks listed therein, JPMorgan Chase Bank, N.A., as Administrative Agent and Citibank, N.A., as Syndication Agent dated as of May 24, 2005 (the Agreement). The Amendment reflects the following changes to the Agreement: (1) an approximate two-year extension, (2) adjustments to the definition of Shareowners Equity to exclude certain pension obligations from the debt to capital ratio calculation, (3) the addition of options exercisable by the Corporation that are subject to subsequent approval of the Lenders to (a) further extend the term for up to two one-year periods and/or (b) increase the aggregate principal amount up to $1.2 billion, and (4) to lower certain margins on interest rates and to reduce the facility fee rate. Under current favorable market conditions, this Amendment allowed us to increase the term of and potential liquidity available from the credit facility, while offsetting Amendment administrative fees with annual facility fee reductions.
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.