-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EUNOk1PBXLzh6VGJwM58QRLuv5C/WCLsTLokL/4xKRaHV+T13a4rf/UwTwVW6IdY BLkztHQ3VoyEjfsNmXWmJQ== 0000950127-02-000402.txt : 20020415 0000950127-02-000402.hdr.sgml : 20020415 ACCESSION NUMBER: 0000950127-02-000402 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20020402 FILED AS OF DATE: 20020402 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ABB LTD CENTRAL INDEX KEY: 0001091587 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MANAGEMENT CONSULTING SERVICES [8742] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16429 FILM NUMBER: 02600019 BUSINESS ADDRESS: STREET 1: PO BOX 8131 STREET 2: CH 8050 CITY: ZURICH SWITZERLAND STATE: V8 ZIP: 999999999 6-K 1 a880939_6k.txt REPORT OF FOREIGN PRIVATE ISSUER SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ---------------------- FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of: April 2002 ABB Ltd -------------------------------------------------- (Exact name of registrant as specified in charter) N/A ----------------------------------------------- (Translation of registrant's name into English) Switzerland ------------------------------ (Jurisdiction of organization) P.O. Box 8131, Affolternstrasse 44, CH-8050, Zurich, Switzerland ---------------------------------------------------------------- (Address of principal executive offices) Registrant's telephone number, international: + 011-41-1-317-7111 -------------------- Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F X Form 40-F --- --- Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes No X --- --- If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- --------- This Form 6-K consists of the following: 1. Press release of ABB Ltd, dated April 2, 2002, in respect of obtaining commitments from banks to underwrite its US$ 3 billion credit facility. -2- Press Release For your business and technology editors ABB obtains full bank commitment for US$ 3 billion credit facility Barclay's, Cititgroup and Credit Suisse First Boston are joint lead underwriters Zurich, Switzerland, April 2, 2002 - ABB, the global power and automation technology group, said today that it has obtained commitments from Barclays, Citigroup and Credit Suisse First Boston to fully underwrite its US$ 3 billion credit facility, which is in the process of being amended. This will increase the company's financial flexibility and replace the existing credit rating trigger with standard market terms and conditions. "This agreement gives us a strong base from which we can invite our relationship banks to participate in an amended facility," said Peter Voser, ABB's chief financial officer. "This should finally put to rest any concerns about ABB's liquidity." Voser also stated that ABB intends to access the capital markets to raise about US$ 2 billion through a combination of straight and convertible bonds in order to extend the maturity of its debt and diversify its sources of finance. Terms and conditions will be announced closer to the launch date within the second quarter of 2002. As part of its announced portfolio change program, ABB confirmed that it is in advanced negotiations with a number of parties to sell its Structured Finance business, part of the Financial Services division. Completion is expected in the third quarter. Voser added: "With these steps, ABB is on track with its financing policy. We have eliminated our dependence on volatile short-term capital markets; we are extending the maturity profile of our debt; and we will repay at least US$ 1.5 billion in net debt by the end of this year." ABB (www.abb.com) is a global leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. ABB has 155,000 employees in more than 100 countries. For more information please contact: Media Relations: Investor Relations: ABB Corporate Communications, Zurich Switzerland: Tel. +41 43 317 3804 Thomas Schmidt Sweden: Tel. +46 21 325 719 Tel: +41 43 317 6492 USA: Tel. +1 203 750 7743 Fax: +41 43 317 6494 investor.relations@ch.abb.com media.relations@ch.abb.com -3- 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, thereunto duly authorized. ABB LTD Date: April 2, 2002 By: /s/ BEAT HESS ----------------------------------- Name: Beat Hess Title: Group Senior Officer By: /s/ HANS ENHORNING ----------------------------------- Name: Hans Enhorning Title: Group Vice President -4- -----END PRIVACY-ENHANCED MESSAGE-----