-----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, DMvkuRgj1NNXwa5K9Bp8QLgX1p645pSvcEdfwbaIoRKMUd119+RpLpz5PpIv/w0p uGMF/BliAyQWz5DbCor/Ug== 0001104659-09-024192.txt : 20090415 0001104659-09-024192.hdr.sgml : 20090415 20090415102958 ACCESSION NUMBER: 0001104659-09-024192 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20090414 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20090415 DATE AS OF CHANGE: 20090415 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GEORGIA GULF CORP /DE/ CENTRAL INDEX KEY: 0000805264 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL INORGANIC CHEMICALS [2810] IRS NUMBER: 581563799 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09753 FILM NUMBER: 09750052 BUSINESS ADDRESS: STREET 1: 115 PERIMETER CENTER PLACE STREET 2: STE. 460 CITY: ATLANTA STATE: GA ZIP: 30346 BUSINESS PHONE: 7703954500 MAIL ADDRESS: STREET 1: 115 PERIMETER CENTER PLACE STREET 2: STE. 460 CITY: ATLANTA STATE: GA ZIP: 30346 8-K 1 a09-10145_28k.htm 8-K

 

 

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):  April 15, 2009 (April 14, 2009)

 

GEORGIA GULF CORPORATION

(Exact name of registrant as specified in its charter)

 

Delaware

 

1-09753

 

58-1563799

(State or other jurisdiction of incorporation)

 

(Commission File Number)

 

(IRS Employer Identification No.)

 

 

 

 

 

115 Perimeter Center Place, Suite 460, Atlanta, GA

 

30346

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code:           (770) 395 - 4500

 

 

(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)

 

o                        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.

 

The information regarding the amendment to Georgia Gulf Corporation’s senior secured credit facility set forth in Item 8.01 and the press release attached as Exhibit 99.1 is hereby incorporated by reference in this Item 1.01.

 

Item 8.01                                             Other Events.

 

Georgia Gulf Corporation announced that it has entered into an amendment to its senior secured credit agreement to allow the company to withhold payment of interest on two issues of its public notes, that the company would withhold $34 million of interest due on those notes and disclosed its cash position and borrowing capacity at March 31, 2009, all as more fully described in the press release attached hereto as Exhibit 99.1, which is hereby incorporated by reference herein.

 

Item 9.01                                             Financial Statements and Exhibits.

 

(d)                                 Exhibits.

 

Number

 

Exhibit

 

 

 

99.1

 

Press Release, dated April 15, 2009.

 

2



 

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.

 

 

GEORGIA GULF CORPORATION

 

 

 

 

 

By:

/s/ Joel I. Beerman

 

Name:

Joel I. Beerman

 

Title:

Vice President, General Counsel and Secretary

 

 

Date: April 15, 2009

 

 

3


EX-99.1 2 a09-10145_2ex99d1.htm EX-99.1

Exhibit 99.1

 

NEWS

 

Georgia Gulf Withholds Interest Payments with Agreement of Lenders

 

·                  Senior credit agreement amended to permit Georgia Gulf to withhold interest payments on certain bonds

 

ATLANTA, GEORGIA — April 15, 2009- Georgia Gulf Corporation (NYSE: GGC - News) today announced that it has received from its senior secured lenders an amendment to its senior secured credit agreement that allows the Company to withhold interest payments until May 11, 2009 on certain of its bonds.  Accordingly, the Company announced today that it would withhold payment of $34.0 million of interest due April 15, 2009 for the 2014 senior notes and 2016 senior subordinated notes.  These bonds are the subject of previously disclosed and currently pending private exchange offers.  Under the indentures governing these bonds, the Company has a 30-day grace period to pay the withheld interest before the bondholders can seek remedies.

 

As of March 31, 2009, the Company had about $100.8 million of liquidity, consisting of $65 million of cash on hand as well as $35.8 million of borrowing capacity available under its revolving credit facility. Additionally, as of March 31, 2009, the Company had $81.4 million, or 47 percent outstanding under the new $175 million securitization facility.

 

“We are pleased to have the support of our lenders and the flexibility that this amendment provides.  We will continue to work closely with all parties that share our desire to achieve a long term capital structure that supports the needs of the business,” said Paul Carrico, President and CEO of Georgia Gulf.

 

Georgia Gulf

 

Georgia Gulf Corporation is a leading, integrated North American manufacturer of two chemical lines, chlorovinyls and aromatics, and manufactures vinyl-based building and home improvement products. The Company’s vinyl-based building and home improvement products, marketed under Royal Group brands, include window and door profiles, mouldings, siding, pipe and pipe fittings, and deck, fence and rail products. Georgia Gulf, headquartered in Atlanta, Georgia, has manufacturing facilities located throughout North America to provide industry-leading service to customers.

 

 

CONTACT:

Martin Jarosick

Investor Relations

Georgia Gulf Corporation

770-395-4524

 


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