Summary
Capital One Financial Corporation (COF) has filed an 8-K report to announce the termination of its $4.2 billion syndicated bridge loan agreement. This loan was originally established on May 9, 2006, to provide interim financing for the cash consideration related to its proposed merger with North Fork Bancorporation, Inc. The commitments under the bridge loan were terminated effective September 29, 2006, and cannot be reinstated. Capital One has effectively replaced the interim financing by issuing approximately $4.2 billion in capital securities, senior notes, and subordinated notes. This filing also serves as a notification under Rule 425 of the Securities Act, indicating it may contain written communications related to the North Fork merger. Investors are reminded that further details about the merger and related filings can be found on the SEC's website and Capital One's investor relations portal.
Key Highlights
- 1Termination of $4.2 billion syndicated bridge loan agreement originally intended for the North Fork Bancorporation merger financing.
- 2Bridge loan commitments terminated effective September 29, 2006, and are non-reinstatable.
- 3Capital One successfully raised approximately $4.2 billion through capital securities, senior notes, and subordinated notes.
- 4This financing effectively replaces the interim bridge loan for the North Fork acquisition.
- 5The filing also relates to written communications under Rule 425, concerning the North Fork merger.
- 6Investors are directed to SEC filings and Capital One's investor relations website for detailed information on the North Fork merger.