Business Context and Reporting Period
Company: Flowserve Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: September 9, 2009
Event: Entry into a Material Definitive Agreement (Second Amendment to Letter of Credit Agreement).
Key Financial Metrics
This filing does not contain revenue, profit, cash flow, margin, or debt balance data. The report focuses exclusively on a specific amendment to a credit facility.
- Agreement Type: Second Amendment to Letter of Credit Agreement.
- Counterparties: ABN AMRO Bank N.V. (Administrative Agent/Issuing Bank), Calyon, and Deutsche Bank AG New York Branch.
- Parties Involved: Flowserve Corporation, Flowserve B.V., and certain foreign subsidiaries.
Material Changes Versus Prior Period
The filing details a modification to the existing Letter of Credit Agreement dated September 14, 2007:
- Termination Date Extension: The Termination Date was extended from September 11, 2009, to November 9, 2009.
- Other Provisions: All other terms of the original agreement remain unmodified and in full force and effect.
- Guarantees: The Company continues to guarantee all obligations and liabilities of its subsidiaries and itself under the agreement.
Guidance, Outlook, and Risks
The filing does not provide financial guidance, management commentary on future outlook, or specific risk factors beyond the standard legal context of the agreement amendment. No unusual items or contingencies were disclosed in this report.
Important Facts for Investor Verification
- Verify the full text of the Second Amendment (Exhibit 10.1) to confirm no hidden covenants or fee changes were included alongside the date extension.
- Confirm the total outstanding balance under the Letter of Credit Agreement to assess the immediate liquidity impact of the extension.
- Review subsequent filings to determine if the facility was utilized or further amended after the November 9, 2009, termination date.