UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
CURRENT REPORT
(AMENDMENT NO. 1)
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 3, 2004
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Bob Evans Farms, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 0-1667 31-4421866
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
3776 South High Street, Columbus, Ohio 43207
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(Address of principal executive offices) (Zip Code)
(614) 491-2225
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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)
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):
|_| 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))
PORTIONS AMENDED:
The Registrant hereby amends Item 2.03 contained in the Registrant's Current
Report on Form 8-K filed November 5, 2004 (the "ORIGINAL 8-K") to clarify the
discussion in the second paragraph of Item 2.03 regarding the outstanding lines
of credit. No other changes are made to the Original 8-K.
Item 2.03. Creation of Direct Financial Obligation or an Obligation
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under an Off-Balance Sheet Arrangement of a Registrant.
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On November 3, 2004, Bob Evans Farms, Inc. and certain of its subsidiaries
(collectively the "Company") signed a credit agreement (the "NCB Credit
Agreement") with National City Bank ("NCB") that allows the Company to borrow,
repay and re-borrow, on an unsecured basis and from time to time, up to $70
million. The NCB Credit Agreement does not have an expiration date, but any
amounts outstanding are payable to NCB on demand. The NCB Credit Agreement
replaces the Company's $60 million credit facility with NCB that had similar
terms.
Borrowings under the NCB Credit Agreement are limited by the face amount of any
issued or requested standby letters of credit under the NCB Credit Agreement.
The Company currently has standby letters of credit totaling $2.7 million.
Interest on borrowings under the NCB Credit Agreement is due when each advance
is repaid. The Company and NCB will mutually determine the interest rate for
each advance at the time of each advance.
On November 3, 2004, the Company also signed a revolving credit agreement (the
"Bank One Credit Agreement") with Bank One that allows the Company to borrow,
repay and re-borrow, on an unsecured basis and from time to time, up to $30
million. The Bank One Credit Agreement expires on December 31, 2005, and
replaces the Company's $10 million credit facility with Bank One that had
similar terms.
Borrowings under the Bank One Credit Agreement will bear interest at rates based
on, at the Company's election, either LIBOR plus 0.50% or the prime rate minus
0.50%. Interest on borrowings under the Bank One Credit Agreement is due when
each advance is repaid. The Company will also pay Bank One a non-usage fee of
1/8% if the average daily unused portion of the credit facility in calendar year
2005 is greater than $15 million.
The Bank One Credit Agreement contains various covenants that are customary with
unsecured, revolving lines of credit. Neither agreement contains financial
covenants related to limitations on indebtedness or the maintenance of any
financial ratios.
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.
BOB EVANS FARMS, INC.
Dated: November 8, 2004 By: /s/ Donald J. Radkoski
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Donald J. Radkoski
Chief Financial Officer, Treasurer and Secretary