8-K/AMaterial AgreementsFinancial EventsExhibits & Filings

CATERPILLAR INC 8-K/A Report, Material Agreement (Apr 8, 2009)

Filed April 8, 2009For Securities:CAT

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.

Frequently Asked Questions

The main purpose of this amended 8-K filing is to correct and clarify the total commitment amount for Caterpillar's 364-day credit facility. The total commitment has been revised to approximately US$1.375 billion, up from a previously stated amount, due to the addition of a new participating bank.

The credit facility size was increased because The Bank of Tokyo-Mitsubishi UFJ, Ltd. was added as a party to the agreement, contributing a US$75 million commitment, which brought the total facility amount to US$1.375 billion.

No, as of the filing date of this amendment (April 7, 2009), Caterpillar Inc. had not drawn any funds from the 364-day credit facility. This suggests the company had sufficient liquidity or access to other funding sources at that time.

The 364-day facility provides an unsecured aggregate revolving credit of approximately US$1.375 billion and expires on March 30, 2010. It includes standard provisions such as representations and warranties, covenants, events of default, conditions precedent, and facility fees. Interest rates are based on an adjusted applicable rate plus a margin.