-----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, Mv5zu8AnaZJQvbu64XDOUf5lsYA/ulRqJxvEiL15mg2X01Fut5ZDzktWciwNRsMG clEnq8vfAguxVYU/GQpHFg== 0001104659-09-031671.txt : 20090512 0001104659-09-031671.hdr.sgml : 20090512 20090511214029 ACCESSION NUMBER: 0001104659-09-031671 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20090511 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20090512 DATE AS OF CHANGE: 20090511 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: 09816989 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 a09-12640_38k.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):  May 11, 2009 (May 11, 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 continue to withhold payment of interest on two issues of its public notes, 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 May 11, 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: May 11, 2009

 

 

3


EX-99.1 2 a09-12640_3ex99d1.htm EX-99.1

Exhibit 99.1

 

 

NEWS

 

Georgia Gulf Announces Bank Amendment

 

ATLANTA, GEORGIA — May 11, 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 continue to withhold interest payments due on its 2014 senior notes and 2016 senior subordinated notes without constituting a default under such credit agreement until the earlier of June 15, 2009 or the first day holders of such notes or its 2013 senior notes may accelerate the indebtedness under such notes. Georgia Gulf previously announced that it had withheld payment of $34.0 million of interest due April 15, 2009 for the 2014 senior notes and 2016 senior subordinated notes. All three of the Company’s note issues are the subject of previously disclosed and currently pending private exchange offers. Under the indentures governing the 2014 senior notes and 2016 senior subordinated notes, Georgia Gulf has a 30-day grace period to pay the withheld interest before the note holders can seek remedies. The Company is currently in discussions with principal holders of each issue of its notes seeking forbearance agreements to provide more time to negotiate the exchange offers. If the Company does not obtain such forbearance agreements (and there can be no assurance that such agreements will be obtained), and does not pay the withheld interest, the indebtedness under the notes may be accelerated by the holders on or after May 15, 2009. The Company’s current liquidity remains essentially unchanged from the previously disclosed $100 million as of March 31, 2009.

 

An acceleration of indebtedness under any issue of the notes would constitute cross defaults under the Company’s other note issues and its senior secured credit facility, permitting the holders of such debt to accelerate same. In the event of any such acceleration, the Company would be required to immediately explore alternatives which could include a potential reorganization or restructuring under the bankruptcy laws. Further, in light of the security interests the Company has granted to its senior secured lenders in it assets, including its current assets, a default under the Company’s senior secured credit facility could materially adversely affect the Company’s liquidity.

 

CONTACT:

 

Martin Jarosick

Georgia Gulf, Investor Relations

770-395-4524

 


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