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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
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Date of Report: July 21, 1998
FIRST UNION REAL ESTATE EQUITY AND
MORTGAGE INVESTMENTS
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(Exact name of registrant as specified in its charter)
Ohio 1-6249 34-6513657
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(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification No.)
Suite 1900, 55 Public Square
Cleveland, Ohio 44113-1937
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (216) 781-4030
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Former name or former address, if changed since last report.
Total number of pages in report 2.
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ITEM 5. OTHER EVENTS.
On June 26, 1998, Registrant, First Union Real Estate Equity and Mortgage
Investments, an Ohio real estate investment trust (the "Trust"), announced that
it signed an amendment to its existing $125 million revolving credit facility,
and that Imperial Parking Limited, the parking affiliate of First Union
Management Inc., signed an amendment to its $34 million (U.S.) credit facility.
The amendments waive violations of certain financial and change of control
covenants in the respective credit facilities.
On July 10, 1998, the Trust commenced a tender offer to purchase all of the
Trust's 8 7/8% Senior Notes due 2003 (the "Notes"). The Trust is also soliciting
consents from noteholders to amend the Indenture to, among other things, remove
significant restrictive covenants contained therein and to terminate the listing
of the Notes on NYSE.
ITEM 7. EXHIBITS.
(99c) Press Release issued June 26, 1998 announcing bank waivers of
certain violations under existing credit facilities.
(99d) Press Release issued July 10, 1998 announcing commencement of
tender offer to purchase the Notes .
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.
First Union Real Estate Equity
and Mortgage Investments
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(Registrant)
Dated: July 21, 1998
By: /s/ Paul F. Levin
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Paul F. Levin
Senior Vice President
Secretary and General Counsel
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EXHIBIT INDEX
EXHIBIT DESCRIPTION
99c Press Release issued by Registrant on June 26, 1998.
99d Press Release issued by Registrant on July 10, 1998.
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