Business Context and Reporting Period
Company: Commercial Metals Company
Filing Type: Form 8-K (Current Report)
Report Date: April 14, 2008
Event Date: April 10, 2008
Context: The Company entered into a material definitive agreement amending its existing Receivables Purchase Agreement (RPA).
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt levels, or liquidity ratios. The document solely reports a contractual amendment regarding the Company's receivables financing facility.
Material Changes
The primary material change reported is the extension of key dates within the Amended and Restated Receivables Purchase Agreement, dated April 22, 2004. The Amendment modifies Section 1.01 of the RPA as follows:
- Commitment Termination Date: Changed from April 10, 2008, to April 30, 2008.
- Expiration Date: Changed from April 10, 2008, to April 30, 2008.
The agreement involves CMC Receivables Inc., Commercial Metals Company, Liberty Street Funding LLC, The Bank of Nova Scotia, and Mellon Bank, N.A.
Guidance, Outlook, and Risks
The filing does not provide management commentary, financial guidance, outlook, or specific risk factors beyond the disclosure of the agreement amendment. No unusual items or contingencies are described in the text provided.
Investor Verification Checklist
- Verify the full terms of the Amendment to the Receivables Purchase Agreement (Exhibit 10.1) to confirm any changes to interest rates, fees, or covenants not explicitly detailed in the summary.
- Confirm the status of the Company's overall liquidity and whether this extension was necessary to maintain funding availability.
- Review the original RPA (filed as Exhibit 10(i)f to the Form 10-Q for the quarter ending May 31, 2004) to understand the baseline terms being amended.