-----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, VCp/olcHS8RVRVq5n+VgG8cchHm7p3ZBhUcmf9hCn6vavyPJuJLSP0mgUc0UwJpJ Sy9X1rPVhWXATsa5WB3lQA== 0000914760-05-000071.txt : 20050310 0000914760-05-000071.hdr.sgml : 20050310 20050310162847 ACCESSION NUMBER: 0000914760-05-000071 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050304 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050310 DATE AS OF CHANGE: 20050310 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PATRICK INDUSTRIES INC CENTRAL INDEX KEY: 0000076605 STANDARD INDUSTRIAL CLASSIFICATION: PLASTICS PRODUCTS, NEC [3089] IRS NUMBER: 351057796 STATE OF INCORPORATION: IN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-03922 FILM NUMBER: 05672758 BUSINESS ADDRESS: STREET 1: 1800 S 14TH ST STREET 2: P O BOX 638 CITY: ELKHART STATE: IN ZIP: 46515 BUSINESS PHONE: 2192947511 MAIL ADDRESS: STREET 1: 1800 SOUTH 14TH STREET PO BOX 638 STREET 2: 1800 SOUTH 14TH STREET PO BOX 638 CITY: ELKHART STATE: IN ZIP: 46515 8-K 1 p02534_8k030905.txt MARCH 4, 2005 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 4, 2005 ---------------- PATRICK INDUSTRIES, INC. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) INDIANA 0-3922 35-1057796 - ------------------------------ --------------------- ---------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification Number) 1800 SOUTH 14TH STREET, P.O. BOX 638, ELKHART, INDIANA) 46515 - ----------------------------------------------------------- ----------------- (Address of Principal Executive Offices) (Zip Code) Registrant's Telephone Number, including area code (574) 294-7511 ----------------- NOT APPLICABLE - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) [ ] 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 MATERIAL AGREEMENTS On March 9, 2005, Patrick Industries, Inc.(the "Company") issued a press release announcing that the Company has expanded its credit facility with JPMorgan Chase Bank, N.A. and National City Bank.. A copy of the press release is filed herewith as Exhibit 99.1. ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibits Exhibit Number Description -------------- ----------- 99.1 Press Release issued March 9, 2005. 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 hereunto duly authorized. PATRICK INDUSTRIES, INC. (Registrant) DATE MARCH 10, 2005 BY /s/ Andy L. Nemeth ------------------------------ Andy L. Nemeth Vice President - Finance and Chief Financial Officer EX-99.1 2 p02534_x99031005.txt MARCH 9, 2005 PRESS RELEASE NEWS RELEASE March 9, 2005 FOR IMMEDIATE RELEASE CONTACT: Andy L. Nemeth PATRICK INDUSTRIES, INC. SECURES FIXED RATE FINANCING Elkhart, Indiana - - - - - - - Paul E. Hassler, President and Chief Executive Officer of Patrick Industries, Inc. (PATK), announced today that the Company has expanded its credit facility with JPMorgan Chase Bank, N.A. and National City Bank by securing an additional $15.0 million in fixed term-debt financing to support its strategic capital equipment and expansion needs. In conjunction with this financing package, the Company reduced its revolving line of credit from $15.0 million to $10.0 million and structured the agreement with interest only payments in 2005 and principal payments to begin in the first quarter of 2006. The interest on the debt is fixed at 4.78%, plus the Company's applicable credit spread as defined in the agreement. The financing platform provides for a five-year maturity with a ten-year amortization schedule and is subject to certain covenants in conjunction with the overall credit facility. Mr. Hassler said, "This financing package supports our capital expenditure initiatives and allows us more flexibility with regards to our working capital needs. As we proceed with our strategic focus and plan for future growth through increased sales and market share, and potential acquisitions, we are pleased to have the support of our financial institutions." Patrick Industries, Inc. is a major manufacturer of component products and a distributor of building products serving the Manufactured Housing, Recreational Vehicle, Furniture, Marine, and Industrial markets, and operates coast to coast in thirteen states. # # # -----END PRIVACY-ENHANCED MESSAGE-----