8-K 1 sec8k031505.txt FLEETWOOD ENTERPRISES, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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): March 15, 2005 FLEETWOOD ENTERPRISES, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 1-7699 95-1948322 (State or Other (Commission File (IRS Employer Jurisdiction of Number) Identification Incorporation) Number) 3125 Myers Street, Riverside, California 92503-5527 (Address of Principal Executive Offices) Registrant's telephone number, including area code: (951) 351-3500 Not Applicable (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions: __ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 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)) Item 1.01. Entry into a Material Definitive Agreement. As of March 15, 2005, Fleetwood Enterprises, Inc.'s financial services subsidiary, HomeOne Credit Corp., entered into an amendment to its $75 million warehouse line of credit with Greenwich Capital Financial Products, Inc. extending the termination date from March 15, 2005 to March 15, 2006, and resetting the unused fee at 37.5 basis points, down from 50 basis points previously. HomeOne also paid a renewal fee of $187,500. In connection with the Amendment, Fleetwood Enterprises, Inc. continues to guarantee HomeOne's obligations in an amount up to $10 million. A tangible net worth covenant in the guaranty was reset to require consolidated tangible net worth for Fleetwood of (i) $110,000,000 plus (ii) 50% of positive net income. All other terms and conditions of the warehouse line of credit and guaranty remain the same. . As of February 28, 2005, outstanding borrowings under the line of credit were approximately $41,377,526.00. 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 above. Item 9.01 Financial Statements and Exhibits. (a) Inapplicable. (b) Inapplicable. (c) Exhibits. 10.1 Amendment Number Four dated as of March 15, 2005 to the Master Loan and Security Agreement dated as of December 30, 2003 between HomeOne Funding I and Greenwich Capital Financial Products, Inc. 10.2 Amendment Number One dated as of March 15, 2005 to the Guaranty dated as of December 30, 2003, made by Fleetwood Enterprises, Inc. in favor of Greenwich Capital Financial Products, Inc. Index to Exhibits 10.1 Amendment Number Four dated as of March 15, 2005 to the Master Loan and Security Agreement dated as of December 30, 2003 between HomeOne Funding I and Greenwich Capital Financial Products, Inc. 10.2 Amendment Number One dated as of March 15, 2005 to the Guaranty dated as of December 30, 2003, made by Fleetwood Enterprises, Inc. in favor of Greenwich Capital Financial Products, Inc. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 16, 2005 FLEETWOOD ENTERPRISES, INC. By: /s/ Leonard J. McGill -------------------------- Leonard J. McGill Senior Vice President, Corporate Finance; Chief Governance Officer