Summary
Caterpillar Inc. (CAT) filed an amendment to a previous 8-K report to clarify the terms of a newly established 364-day credit facility. The primary purpose of this amendment is to correct the total commitment amount for the facility, increasing it to approximately US$1.375 billion. This increase is due to the addition of The Bank of Tokyo-Mitsubishi UFJ, Ltd. as a participating bank with a US$75 million commitment. This facility, entered into on March 31, 2009, and expiring on March 30, 2010, serves as an alternative source of funds for general corporate purposes for Caterpillar Inc. and Caterpillar Financial Services Corporation. Importantly, as of the filing date, Caterpillar had not drawn any funds from this facility, indicating current liquidity or access to other funding sources. The agreement includes standard covenants, representations, and events of default, common in such financial arrangements.
Key Highlights
- 1Caterpillar Inc. amended its 8-K filing to reflect a revised total commitment of approximately US$1.375 billion under its new 364-day credit facility.
- 2The increase in the credit facility's size is attributed to the addition of The Bank of Tokyo-Mitsubishi UFJ, Ltd. as a lender.
- 3The 364-day credit facility was entered into on March 31, 2009, and is set to expire on March 30, 2010.
- 4The facility is designed to provide an alternative source of funds for general corporate purposes for Caterpillar Inc. and Caterpillar Financial Services Corporation.
- 5As of the filing date, Caterpillar had not drawn any funds from this credit facility, suggesting current liquidity or alternative funding.
- 6The agreement includes customary representations, warranties, covenants, and events of default.