-----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, Jav9MvpH4mwTKzOmCDbmD/HoMNAUppC8MaI0WqUNQ3sHSNOpNmUTvPCRqoTdlFrJ cGyM135ya7psGP7KrCYlzg== 0000899681-10-000445.txt : 20100914 0000899681-10-000445.hdr.sgml : 20100914 20100914153715 ACCESSION NUMBER: 0000899681-10-000445 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100913 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20100914 DATE AS OF CHANGE: 20100914 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CEDAR SHOPPING CENTERS INC CENTRAL INDEX KEY: 0000761648 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 421241468 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-31817 FILM NUMBER: 101071443 BUSINESS ADDRESS: STREET 1: 44 SOUTH BAYLES AVENUE CITY: PORT WASHINGTON STATE: NY ZIP: 11050 BUSINESS PHONE: 5167676492 MAIL ADDRESS: STREET 1: 44 SOUTH BAYLES AVENUE CITY: PORT WASHINGTON STATE: NY ZIP: 11050 FORMER COMPANY: FORMER CONFORMED NAME: CEDAR INCOME FUND LTD /MD/ DATE OF NAME CHANGE: 20001128 FORMER COMPANY: FORMER CONFORMED NAME: UNI INVEST USA LTD DATE OF NAME CHANGE: 20000407 FORMER COMPANY: FORMER CONFORMED NAME: CEDAR INCOME FUND LTD DATE OF NAME CHANGE: 19920703 8-K 1 cedar-8k_091410.htm FORM 8K cedar-8k_091410.htm
 
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): September 13, 2010

CEDAR SHOPPING CENTERS, INC.
(Exact Name of Registrant as Specified in its Charter)

Maryland
(State or Other Jurisdiction of Incorporation)
     
001-31817
(Commission File Number)
  
42-1241468
(IRS Employer
Identification No.)

44 South Bayles Avenue
Port Washington, New York 11050
(Address of Principal Executive Offices) (Zip Code)

(516) 767-6492
(Registrant’s Telephone Number, Including Area Code)

Not Applicable
(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:
     
o
  
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)
     
o
  
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
     
o
  
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.
 
On November 10, 2009, Cedar Shopping Centers, Inc. (the “Company”) closed an amended and restated secured revolving stabilized property credit facility in the amount of $265 million (subsequently increased to $285 million), with Bank of America, N.A. continuing as administrative agent, together with three lead lenders and other participating banks.  Pursuant to the terms of this facility, the Company has exercised its right to reduce the total commitment under this facility from $285 million to $185 million effective as of September 13, 2010.
 
The reduction will eliminate unused portion fees of 50 basis points under the facility, representing potential cost savings of approximately $500,000 on an annualized basis.
 
Amounts drawn as of this date under the facility have been reduced to a level of approximately $6 million.  Based on covenant calculations and accepted collateral in place, total availability under the facility at this time is approximately $167 million, of which approximately $161 million is currently available to the Company.
 
The facility, which has an interest rate of LIBOR plus 350 basis points, with a LIBOR floor of 200 basis points, matures on January 31, 2012, subject to a one-year extension option.
 
SIGNATURE
 
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 hereunto duly authorized.
 
Dated: September 14, 2010
 

CEDAR SHOPPING CENTERS, INC.
 
 
 
By:
/s/ Leo S. Ullman                                               
 
Leo S. Ullman
 
Chairman of the Board, President and CEO


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