Summary
Caterpillar Inc. (CAT) filed an amendment to a previously submitted Form 8-K, specifically addressing a 364-Day Credit Facility. The primary purpose of this amendment is to correct a clerical error in the original filing, revising the total committed amount of the facility from an incorrectly stated US$2.350 billion to the accurate figure of US$2.2525 billion. This credit facility, established on September 18, 2008, with an expiration date of September 17, 2009, serves as a potential alternative funding source for the company's commercial paper program.
Key Highlights
- 1Amendment clarifies the total commitment for the 364-Day Credit Facility to US$2.2525 billion.
- 2Original filing incorrectly stated the commitment at US$2.350 billion.
- 3The credit facility has an expiration date of September 17, 2009.
- 4The facility is unsecured and intended as an alternative source of funds for the company's commercial paper program.
- 5Caterpillar has not drawn on this facility, nor has it drawn on similar facilities previously.
- 6The agreement includes customary representations, warranties, covenants, and events of default.
- 7Borrowings under the facility are subject to interest at an adjusted applicable rate plus a margin.
Frequently Asked Questions
The primary reason for this filing is to correct a factual error in a previous 8-K filing regarding the total committed amount of Caterpillar's 364-Day Credit Facility. The amount has been corrected from US$2.350 billion to the accurate US$2.2525 billion.
The 364-Day Credit Facility serves as an alternative source of funds, if necessary, for Caterpillar's commercial paper program, particularly at maturity. It provides access to liquidity without requiring an immediate draw.
No, the filing explicitly states that Caterpillar has not drawn on this 364-Day Credit Facility, nor has it drawn on similar credit facilities in the past.
The 364-Day Credit Facility is set to expire on September 17, 2009.