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): July 21, 2009
American Select Portfolio Inc.
(Exact name of registrant as specified in its charter)
MINNESOTA 811-07838 41-1755339
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
800 Nicollet Mall
Minneapolis, Minnesota 55402
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (612) 303-3738
(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))
Item 7.01 Regulation FD Disclosure.
American Select Portfolio Inc. (the "Fund") entered into an Amended and Restated
Master Loan and Security Agreement dated as of March 27, 2009 with Massachusetts
Mutual Life Insurance Company ("MMLIC") as lender and Babson Capital Management
LLC ("Babson") as Agent (the "Agreement). The Agreement amends and restates a
Master Loan Agreement dated as of July 10, 2008 among the Fund, MMLIC and
Babson. Under the Agreement, MMLIC has made a term loan to the Fund of
$31,900,000 and has committed to make a revolving loan to the Fund of up to
$9,100,000. The term loan will mature on July 31, 2011 (the "Maturity Date") and
may be repaid prior to the Maturity Date subject to the payment of any
applicable breakage fees and to prepayment fees of 3% if prepaid prior to July
31, 2009, 2% if prepaid between August 1, 2009 and July 31, 2010, and 1% if
prepaid between August 1, 2010 and April 30, 2011. Once the term loan is repaid,
the principal amount of the term loan may not be re-advanced to the Fund. The
revolving loan may be repaid and re-advanced from time to time prior to the
Maturity Date without the payment of any penalties, other than any applicable
breakage fees. The term loan and revolving loan bear interest at the one-month
London Interbank Offered Rate ("LIBOR") plus 2.625%, subject to a minimum
interest rate of 5.0% per year. Loans made under the Agreement are secured by
mortgage loans and certain other securities in the Fund's investment portfolio.
The foregoing description of the Agreement does not purport to be complete and
is qualified in its entirety by reference to the full text of the Agreement,
including the exhibits thereto, which is attached hereto as Exhibit 99.1 and
incorporated into this Item 7.01 by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 Amended and Restated Master Loan and Security Agreement
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.
American Select Portfolio Inc.
By: /s/ Kathleen L. Prudhomme
Name: Kathleen L. Prudhomme
Title: Secretary
DATE: July 21, 2009
EXHIBIT INDEX
Exhibit No. Description
- ----------- -----------
99.1 Amended and Restated Master Loan and Security Agreement