8-KMaterial AgreementsExhibits & Filings

TE Connectivity plc 8-K Report, Material Agreement (Aug 31, 2007)

Filed August 31, 2007For Securities:TEL

Summary

This 8-K filing by Tyco Electronics Ltd. (now TE Connectivity plc) on August 31, 2007, primarily details an amendment to its 364-Day Senior Bridge Loan Agreement. The key development is the company's option to extend the maturity date of its outstanding $2.7 billion Tranche A bridge loan by an additional 364 days, pushing the potential maturity to April 23, 2008. This provides the company with increased financial flexibility regarding its near-term debt obligations. Notably, the Tranche B portion of the bridge facility, which was previously drawn, has been fully repaid and its commitment terminated. The amendment was entered into by Tyco Electronics Group S.A. as borrower, Tyco Electronics Ltd. as guarantor, and Bank of America, N.A. as administrative agent. This filing focuses on the financial maneuverings and debt management aspects of the company.

Key Highlights

  • 1Tyco Electronics amended its 364-Day Senior Bridge Loan Agreement.
  • 2The company gains the option to extend the maturity date of the Tranche A bridge loan by 364 days.
  • 3As of the filing date, $2.7 billion was outstanding under the Tranche A facility, which was fully drawn.
  • 4The Tranche B commitment under the bridge facility has been fully paid and terminated.
  • 5This amendment provides increased financial flexibility for near-term debt management.
  • 6The amendment was effective as of August 31, 2007.

Frequently Asked Questions

The main purpose of this 8-K filing is to report on an amendment to Tyco Electronics' 364-Day Senior Bridge Loan Agreement. Specifically, it details the company's option to extend the maturity of its significant outstanding loan.

The amendment provides the company with greater financial flexibility by allowing it to extend the maturity date of its $2.7 billion Tranche A bridge loan by up to an additional 364 days. This eases immediate debt repayment pressure.

The Tranche B commitment under the bridge facility has been fully paid off as of the filing date, and its commitment has been terminated. Only the Tranche A facility remains outstanding and subject to the amendment.

If Tyco Electronics exercises its option to extend, the maturity date for the Tranche A loan would become 364 days from its original scheduled maturity of April 23, 2008, making the potential new maturity date April 23, 2009.