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 25, 2007
STANDARD PACIFIC CORP.
(Exact Name of Registrant as Specified in Charter)
| | | | |
| Delaware | | 1-10959 | | 33-0475989 |
(State or Other Jurisdiction of Incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
| | |
15326 Alton Parkway Irvine, California | | 92618 |
| (Address of Principal Executive Offices) | | (Zip Code) |
Registrant’s telephone number, including area code: (949) 789-1600
Not Applicable
(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:
| ¨ | 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 14d-2(b) 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)) |
INFORMATION TO BE INCLUDED IN THE REPORT
| ITEM 1.01 | ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT |
Standard Pacific Corp. (the “Company”) and the lenders under its Revolving Credit Facility and $100 million Term Loan A entered into the Second Amendment of Revolving Credit Agreement (the “Revolver”) and First Amendment of Term Loan A Credit Agreement (the “TLA”), effective April 25, 2007 (the “Amendment”). The Amendment, among other things, extends the maturity date of the Revolver from August 31, 2009 to May 5, 2011 and modifies various financial and other covenants contained in both the Revolver and TLA, including the Leverage Ratio and Minimum Interest Coverage Covenants. In addition, in accordance with the terms of the Company’s $250 million Term Loan B Credit Agreement (“TLB”), certain provisions of the TLB that correspond to the amended provisions of the Revolver and the TLA (including the Leverage Ratio and Minimum Interest Coverage covenants of the TLB) were automatically amended upon the effective date of the Amendment. Attached hereto as Exhibits 99.1 and 99.2 and incorporated by reference herein are copies of the Amendment and the notice of amendment provided to the TLB lenders.
| ITEM 2.03 | CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT |
Item 1.01 above is incorporated herein by reference.
| ITEM 9.01 | FINANCIAL STATEMENTS AND EXHIBITS |
(d) Exhibits
| | |
EXHIBIT NUMBER | | DESCRIPTION |
| 99.1 | | Second Amendment of Revolving Credit Agreement and First Amendment of Term Loan A Credit Agreement |
| |
| 99.2 | | Notice of Auto-Amendment of Certain Provisions of the Term Loan B Credit Agreement |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 25, 2007
| | |
STANDARD PACIFIC CORP. |
| |
| By: | | /s/ANDREW H. PARNES |
| | Andrew H. Parnes Executive Vice President – Finance and Chief Financial Officer |
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EXHIBIT INDEX
| | |
EXHIBIT NUMBER | | DESCRIPTION |
| 99.1 | | Second Amendment of Revolving Credit Agreement and First Amendment of Term Loan A Credit Agreement |
| |
| 99.2 | | Notice of Auto-Amendment of Certain Provisions of the Term Loan B Credit Agreement |
