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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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):
February 15, 2001
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PHYCOR, INC.
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(Exact name of registrant as specified in its charter)
Tennessee 0-19786 62-13344801
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(State or Other (Commission File (I.R.S. Employer
Jurisdiction of Number) Identification
Incorporation) Number)
30 Burton Hills Boulevard
Suite 400
Nashville, Tennessee 37215
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(Address of principal executive offices) (Zip Code)
(615) 665-9066
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(Registrant's telephone number, including area code)
Not applicable
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
PhyCor, Inc. (the "Company") failed to make the interest payment due
February 15, 2001, on its outstanding 4.5% Convertible Subordinated Debentures
Due 2003 (the "Notes"). Under the terms of the Indenture related to the Notes,
unless the Company makes the interest payment within thirty days an event of
default will occur ("Event of Default"). Upon the occurrence of an Event of
Default, the trustee of the Notes, after a request by 25% of the holders of the
Notes, may declare all unpaid principal and interest to be due and payable. In
addition, under the Company's Fourth Amended and Restated Revolving Credit
Agreement dated as of August 25, 2000, as amended, (the "Credit Facility"), an
Event of Default under the Notes permits the Majority Banks (as defined in the
Credit Facility) to declare the debt outstanding thereunder, currently $11.9
million, immediately due and payable.
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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.
PHYCOR, INC.
By: /s/ Tarpley B. Jones
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Tarpley B. Jones
Executive Vice President and
Chief Financial Officer
Date: February 15, 2001
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