SECURITIES AND EXCHANGE COMMISSION
UNITED STATES
Washington, DC 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) NOVEMBER 8, 2004
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INTERMET CORPORATION
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(Exact name of registrant as specified in its charter)
GEORGIA 0-13787 58-1563873
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
5445 CORPORATE DRIVE, SUITE 200 48098-2683
TROY, MICHIGAN ----------
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code: (248) 952-2500
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NOT APPLICABLE
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(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 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On November 8, 2004, INTERMET Corporation entered into a First
Amendment to Debtor in Possession Credit Agreement (the "First Amendment") among
the company, certain of the company's subsidiaries (collectively, the
"Borrowers"), a group of lenders (the "Lenders"), Deutsche Bank Trust Company
Americas ("Deutsche Bank"), as collateral agent for the Lenders and as co-agent,
and The Bank of Nova Scotia ("Scotia Capital") as administrative agent for
Lenders. The First Amendment amends the company's Debtor in Possession Credit
Agreement dated as of October 22, 2004 (the "Credit Agreement"). Deutsche Bank
and Scotia Capital are also parties to the company's pre-petition First Amended
and Restated Credit Agreement dated January 8, 2004.
As previously reported, the Credit Agreement provides for a
$60.0 million commitment of debtor-in-possession financing (the "DIP Facility")
to fund the Borrowers' working capital requirements and other corporate purposes
during the Borrowers' chapter 11 proceedings. Pursuant to the terms of the
Credit Agreement, the Borrowers are able to borrow up to $20.0 million of the
DIP facility through December 31, 2004, subject to a budget and other
restrictions. Under the First Amendment, the Lenders have agreed that they will
give immediate effect to their commitment to fund the additional $40.0
availability under the DIP Facility. The Borrowers' ability to borrow this
additional $40.0 remains subject to the following conditions: completion of
collateral documents and other closing deliveries; approval by Deutsche Bank and
Scotia Capital of an updated budget; no material adverse change in the business
or condition of INTERMET and its subsidiaries, taken as a whole; execution of
agreements satisfactory to Deutsche Bank and Scotia Capital by INTERMET and its
customers representing 75% of INTERMET's gross sales; and minimum availability
of $25.0 million under the borrowing base. Two additional conditions to the
Borrowers' ability to borrow the $40.0 million have already been satisfied:
first, the Bankruptcy Court gave its final approval of the DIP Facility on
November 5, 2004, subject to rights of appeal, and second, INTERMET has paid a
commitment fee of approximately $1.0 million to the Lenders.
A copy of the First Amendment is attached to this Current
Report on Form 8-K as Exhibit 10.1.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Not applicable
(b) Not applicable
(c) Exhibits:
The following exhibit is being filed herewith:
10.1 Debtor in Possession Credit Agreement dated as of October 22,
2004.
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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.
INTERMET CORPORATION
November 12, 2004 By: /s/ Alan J. Miller
Alan J. Miller
Vice President, General Counsel
and Assistant Secretary
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Exhibit Index
Exhibit No Description
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10.1 Debtor in Possession Credit Agreement dated as of October 22,
2004.