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): November 10,
2004
PATRIOT TRANSPORTATION HOLDING, INC.
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(Exact name of registrant as specified in its charter)
FLORIDA 0-17554 59-2924957
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(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
1801 Art Museum Drive 32207
Jacksonville, Florida
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (904) 396-
5733
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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 CRF 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))
CURRENT REPORT ON FORM 8-K
PATRIOT TRANSPORTATION HOLDING, INC.
November 10, 2004
ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On November 10, 2004, the Company entered into a Revolving
Credit Agreement with Wachovia Bank, National Association, as
administrative agent, and the participating lenders (the
"Revolving Credit Agreement"). The Revolving Credit Agreement
replaces the Company's existing revolving credit agreement dated
January 9, 2002.
The Revolving Credit Agreement establishes a five year
revolving credit facility with a maximum facility amount of $37
million, with separate sublimits for swingline loans and standby
letters of credit. The revolving credit facility terminates on
December 31, 2009. The interest rate and commitment fees vary
depending on the consolidated total debt to consolidated total
capitalization ratio of the Company. The Revolving Credit
Agreement contains certain conditions, affirmative financial
covenants and negative covenants.
A copy of the Revolving Credit Agreement is attached as
Exhibit 10.1.
Item 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN
OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A
REGISTRANT.
See Item 1.01
Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibit 10.1 Revolving Credit Agreement dated November
10, 2004 with Wachovia Bank, National Association, as
administrative agent, and the participating lenders.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this Current Report to be
signed on its behalf by the undersigned thereunto duly
authorized.
PATRIOT TRANSPORTATION HOLDING,
INC.
Date: November 15, 2004 By: /s/ Ray M. Van Landingham
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Ray M. Van Landingham
Vice President, Finance and
Administration and Chief Financial
Officer
EXHIBIT INDEX
Exhibit No.
10.1 Revolving Credit Agreement dated November 10, 2004 with
Wachovia Bank, National Association, as administrative
agent, and the participating lenders.