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): June 30, 2008
Financial Security Assurance Holdings Ltd.
(Exact name of registrant as specified in its charter)
New York | | 1-12644 | | 13-3261323 |
(State or other jurisdiction | | (Commission File Number) | | (IRS Employer |
of incorporation) | | | | Identification No.) |
| | | | |
31 West 52nd Street, New York, NY | | 10019 |
(Address of principal executive offices) | | (Zip Code) |
Registrant’s telephone number, including area code: (212) 826-0100
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 (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 420.14a-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 June 30, 2008, Dexia Crédit Local, S.A. (“DCL”) and FSA Asset Management LLC (“FSAM”), a subsidiary of Financial Security Assurance Holdings Ltd. (the “Company”), entered into a revolving credit agreement pursuant to which DCL will provide a $5.0 billion committed, unsecured standby line of credit to FSAM. FSAM is part of the Company’s financial products segment, which issues guaranteed investment contracts to municipal issuers and others requiring Triple-A rated deposits. The standby line of credit will have an initial term of five years and will be renewed as needed thereafter.
DCL and the Company are subsidiaries of Dexia S.A., a publicly held Belgian corporation.
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SIGNATURE
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.
| FINANCIAL SECURITY ASSURANCE |
| HOLDINGS LTD. |
| |
| |
Date: July 1, 2008 | By: | /s/ Bruce E. Stern |
| | Name: | Bruce E. Stern |
| | Title: | General Counsel and Managing |
| | Director |
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