Item 1.02 Termination of a Material Definitive Agreement.
Termination of Credit Facilities
On November 21, 2007, Harsco Corporation (the “Company”) terminated the following credit agreements: (1) a $250 million, 364-Day Credit Agreement dated December 23, 2005, as further amended on December 22, 2006, between the Company, The Royal Bank of Scotland, plc (“RBS”), as syndication agent, and Citicorp North America, Inc. (“Citicorp”), as administrative agent; and (2) a $75 million Credit Agreement dated April 16, 2007 between the Company and RBS.
There were no borrowings outstanding under either facility at the time of termination and there were no cancellation fees associated with the terminations.
The facilities, which were set to expire in December 2007, were replaced by the Company’s new $450 million credit facility with JP Morgan Chase Bank N.A., as Administrative Agent, and a syndicate of 12 other banks, entered into on November 6, 2007. Further disclosure regarding the new credit facility is contained in the Company’s Form 8-K filing dated November 6, 2007.
From time to time, RBS, Citicorp and certain of the lenders, or their affiliates, provide customary commercial and investment banking services to the Company.
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.
| HARSCO CORPORATION
(Registrant) | |
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DATE November 27, 2007
| | /s/ Mark E. Kimmel Mark E. Kimmel | |
| | General Counsel and Corporate Secretary | |
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