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): April 19, 2005
MAXXAM INC. |
(Exact name of registrant as specified in its charter)
Delaware | 1-3924 | 95-2078752 | ||||
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||
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1330 Post Oak Boulevard Houston, Texas |
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(Address of principal executive offices) |
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Registrant's telephone number, including area code:(713) 975-7600 | ||||||
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):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events.
On April 19, 2005, the Registrant's indirect wholly owned subsidiary, The Pacific Lumber Company ("Palco"), and Palco's subsidiary, Britt Lumber Co., Inc. ("Britt"), as borrowers, closed
• | a five-year $30.0 million secured asset-based revolving credit facility ("Revolving Credit Facility") with The CIT Group/Business Credit, Inc.; and |
• | a five-year $35.0 million secured term loan ("Term Loan") with Credit Suisse First Boston. |
The borrowers used a portion (approximately $10.8 million) of the funds from the Term Loan to pay off amounts previously borrowed under their revolving credit facility with Bank of America (and terminated such facility). The borrowers have not yet borrowed any amounts under the Revolving Credit Facility.
The material terms of the Revolving Credit Facility, Term Loan will be described in a subsequent Current Report on Form 8-K filed with the Securities and Exchange Commission.
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.
Date: | April 20, 2005 | MAXXAM INC. |
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| By: | /s/ Bernard L. Birkel |
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| Name: | Bernard L. Birkel |
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| Title: | Secretary & Senior Assistant General Counsel | |||||
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