Developers Diversified Realty Corp - Current report filing (8-K)
December 12 2007 - 3:55PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
December 7, 2007
DEVELOPERS DIVERSIFIED REALTY CORPORATION
(Exact name of registrant as specified in its charter)
|
|
|
|
|
Ohio
|
|
1-11690
|
|
34-1723097
|
|
|
|
|
|
(State or other jurisdiction
of incorporation)
|
|
(Commission
File Number)
|
|
(IRS Employer
Identification No.)
|
|
|
|
3300 Enterprise Parkway, Beachwood, Ohio
|
|
44122
|
|
|
|
(Address of principal executive offices)
|
|
(Zip Code)
|
Registrants telephone number, including area code
(216) 755-5500
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 1.01
Entry into a Material Definitive Agreement
On December 7, 2007, Developers Diversified Realty Corporation (the Company) entered into a
Second Amendment to Seventh Amended and Restated Credit Agreement (the JPMorgan Amendment) by and
among the Company, DDR PR Ventures LLC, S.E., a Delaware limited liability company (DDR PR
Ventures), JPMorgan Chase Bank, N.A., as Administrative Agent, and the several banks, financial
institutions and other entities from time to time parties to such loan agreement that (i) permits
the Company to borrow in Canadian dollars and (ii) amends certain covenants contained in the loan
agreement. A copy of the JPMorgan Amendment is attached as Exhibit 4.1 and is incorporated by
reference herein. The foregoing description of the JPMorgan Amendment is qualified in its entirety
by reference to Exhibit 4.1.
On December 10, 2007, the Company entered into a Third Amendment to First Amended and Restated
Secured Term Loan Agreement (the KeyBank Amendment) among the Company, DDR PR Ventures, KeyBank
National Association, and the several banks, financial institutions and other entities from time to
time parties to such loan agreement, and KeyBank National Association, as Administrative Agent,
Bank of America, N.A., as Syndication Agent, and Eurohypo AG, New York Branch, ING Real Estate
Finance (USA) LLC and Scotiabanc Inc., as Documentation Agents that (i) increases the aggregate
commitment under the loan agreement from $550,000,000 to $800,000,000; (ii) provides additional
collateral to support the increased commitment; (iii) amends certain covenants contained in the
loan agreement; and (iv) admits certain banks as lenders under the loan agreement. A copy of the
KeyBank Amendment is attached as Exhibit 4.2 and is incorporated by reference herein. The foregoing
description of the KeyBank Amendment is qualified in its entirety by reference to Exhibit 4.2.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation Under and Off-Balance sheet
Arrangement
As discussed in Item 1.01 above, the Company entered into the KeyBank Amendment. The
information regarding the KeyBank Amendment set forth under Item 1.01 is incorporated by reference
herein.
Item 9.01
Financial Statements and Exhibits
(d) Exhibits
|
|
|
Exhibit No.
|
|
Description of Exhibit
|
|
|
|
Exhibit 4.1
|
|
Second Amendment to Seventh Amended and Restated Credit
Agreement by and among the Company, DDR PR Ventures, JPMorgan
Chase Bank, N.A., as Administrative Agent, and the several
banks, financial institutions and other entities from time to
time parties to such loan agreement
|
|
|
|
Exhibit 4.2
|
|
Third Amendment to First Amended and Restated Secured Term
Loan Agreement among the Company, DDR PR Ventures, KeyBank
National Association, and the several banks, financial
institutions and other entities from time to time parties to
such loan agreement, and KeyBank National Association, as
Administrative Agent, Bank of America, N.A., as Syndication
Agent, and Eurohypo AG, New York Branch, ING Real Estate
Finance (USA) LLC and Scotiabanc Inc., as Documentation Agents
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
|
|
|
|
|
|
|
Developers Diversified Realty Corporation
|
|
|
(Registrant)
|
|
|
|
|
|
|
|
|
|
Date: December 12, 2007
|
By:
|
/s/ William H. Schafer
|
|
|
|
William H. Schafer
|
|
|
|
Executive Vice President and Chief Financial Officer
|
|
|
Exhibit Index
|
|
|
Exhibit No.
|
|
Description of Exhibit
|
|
|
|
Exhibit 4.1
|
|
Second Amendment to Seventh Amended and Restated Credit
Agreement by and among the Company, DDR PR Ventures, JPMorgan
Chase Bank, N.A., as Administrative Agent, and the several
banks, financial institutions and other entities from time to
time parties to such loan agreement
|
|
|
|
Exhibit 4.2
|
|
Third Amendment to First Amended and Restated Secured Term
Loan Agreement among the Company, DDR PR Ventures, KeyBank
National Association, and the several banks, financial
institutions and other entities from time to time parties to
such loan agreement, and KeyBank National Association, as
Administrative Agent, Bank of America, N.A., as Syndication
Agent, and Eurohypo AG, New York Branch, ING Real Estate
Finance (USA) LLC and Scotiabanc Inc., as Documentation Agents
|
Developers Realty (NYSE:DDR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Developers Realty (NYSE:DDR)
Historical Stock Chart
From Jul 2023 to Jul 2024