-----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, WXHmvGfY94BWJcxH1/mOMRAJo8oJrlKTqC+rd2keqKeCTl/AZEaCWfwqcRoce1zd jou6qG2YF/P72PHfQvRdaA== 0001104659-09-032185.txt : 20090513 0001104659-09-032185.hdr.sgml : 20090513 20090513165013 ACCESSION NUMBER: 0001104659-09-032185 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20090513 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20090513 DATE AS OF CHANGE: 20090513 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: 09822940 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_48k.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 13, 2009 (May 13, 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 forbearance agreements 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.

 

On May 13, 2009, Georgia Gulf Corporation announced that it has entered into forbearance agreements with the requisite holders of its 7.125% Senior Notes due 2013, 9.5% Senior Notes due 2014, and 10.75% Senior Subordinated Notes due 2016 (collectively the “Notes”), and that it has extended the early participation deadline and expiration date for its private exchange offers to exchange all of the outstanding Notes until 12:00 midnight, New York City time on June 1, 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 May 13, 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 13, 2009

 

 

 

3


EX-99.1 2 a09-12640_4ex99d1.htm EX-99.1

Exhibit 99.1

 

 

NEWS

 

Georgia Gulf Announces Note Holder Forbearances and
Extension of Private Debt Exchange Offers

 

·                  Agreements obtained from holders of more than $634 million of the $800 million total principal amount

 

ATLANTA, GEORGIA — May 13, 2009 — Georgia Gulf Corporation (NYSE:  GGC) today announced it has entered into agreements with the holders its 9.5% Senior Notes due 2014 and 10.75% Senior Subordinated Notes due 2016 comprising the requisite percentages thereof to ensure that such indebtedness may not be accelerated under the indentures for such notes prior to June 15, 2009 due to $34.5 million of interest payments due April 15, 2009 under such notes being withheld by the Company, as previously announced.  The requisite holders of the Company’s 7.125% Senior Notes due 2013 have provided a similar agreement.  These forbearance agreements were entered into with over 84 percent, 79 percent and 53 percent of the holders of the Company’s 2014 senior notes, 2016 senior subordinated notes and 2013 senior notes, respectively.  All three of the notes issuances are the subject of previously announced private exchange offers (the “exchange offers”).

 

Upon expiration of these forbearances on June 15, 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. 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.

 

The Company also announced that it has extended the early participation deadline and the expiration date for the exchange offers until 12:00 midnight, New York City time June 1, 2009.  The exchange offers provide for the exchange of the three issues of outstanding notes for $250,000,000 aggregate principal amount of 15% Senior Secured Second Lien Notes due 2014 and 6,922,255 shares of Georgia Gulf common stock.

 

Each exchange offer will expire at 12:00 midnight, New York City time, on June 1, 2009, unless extended.  As of May 13, 2009 approximately $18.8 million, $17.9 million and $150 thousand of the $100 million, $500 million and $200 million in principal amount outstanding of the 2013, 2014 and 2016 notes had been tendered in the exchange offers.  Full details of the exchange offers and related consent solicitations are included in the offering memorandum for these exchange offers, copies of which are available to Eligible Holders (as defined below) from Global Bondholder Services Corporation, the information agent, by calling (212) 430-3774 or toll free at (866) 873-7700.

 



 

The exchange offers have been made, and the new notes and shares of common stock are being offered and will be issued, in a private transaction in reliance upon an exemption from the registration requirements of the Securities Act of 1933, only to holders of the notes (i) in the United States, that are “qualified institutional buyers,” as that term is defined in Rule 144A under the Securities Act, or (ii) outside the United States, that are persons other than “U.S. persons,” as that term is defined in Rule 902 under the Securities Act, in offshore transactions in reliance upon Regulation S under the Securities Act (collectively, the “Eligible Holders”).

 

Neither the new notes nor the shares of common stock have been registered under the Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

 

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

 

CONTACT:

 

Martin Jarosick

Georgia Gulf

Investor Relations
770-395-4524

 


GRAPHIC 3 g126404mm01i001.jpg GRAPHIC begin 644 g126404mm01i001.jpg M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``@&!@<&!0@'!P<)"0@*#!0-#`L+ M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7& MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$! M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$" M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$ MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4 MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#W^N!USXE1 M65[):Z=:+<^6Q5I7?"DCKC'7ZUTGBO5#I'AN\N5;$I7RX_\`>;@?EU_"O$K" MS?4-0MK./[\\BQ@_4]:TA%/5G'B:THM1AN=U%\2-;G3?#H:2+_>0.P_,"IH_ M'WB&21(U\/CCZ[X M@U'6+.S_`+8N]LLJACOZ+U8_EFFDFKV,I5)QERN3O\CVE=VT;L;L MUOQ]J]W?RBPN3:VBL1&(U&Y@.Y)]:T+R/QA8:(VIW/B!4"HKF#<-X!Q@=.O/ M2IY&='UJ+ORINQZC17E7A#Q?K$NNQVU[=FXM75C)Y@&4"J3N!`]JHZQX^UG4 M;QA8SM:6^[$:1`;B.V3Z_2CD=["^MPY>8]CHKS/4=*\6:9H#ZK<^(I@\:AG@ M#GC)`QGIGGTJIX/\7ZN^O6UE>7+W4%PVPB3!93C@@T(=4O%BLYOLZR.$BBB4%CDX&6/4UH:V/&&@: M;'>7NO?ZQP@BC.6R03_=QVHY&3]:B[M)V1ZG7'>(/%>KZ9J[VEAHKW4**N9= MCX+$9(&!]*Y3PMK^N:CX@MX[G5;AK:,--,#C&Q1DYX^@K+N/&6OS7,LD6ISH MCN2B+C"@G@#BFH:D3Q*<;JZ/5_#6IZAJVFM=:A9"S?S"J1X()`[G/OFMFN'U MBVUV*"Q8^)[?3U6V19//8!I).K'I^'X5E1IKT[B*W\Z-U"&P\6]NY9Y"6FFFZIHNL:1XB*G_"P?$'_`$+I_P"^)/\`"N]TR>XNM,MKBZB$ M,\L8=XQGY2><]4-&^(`OX+Z[O;-;:UM(PS.K[BS$X"@8')YKAO&5W+<:]Y$LS2M9P MI;LYZLP&6/\`WT34-V/L?A.QM^CWLSW+_P"ZOR)^NXU2@K'-+$3YW9Z(ZT_% M&>68I;:*7'\(\TEB/H!6WX:\6WVO:F]K/I+6D:Q&0R,6[$#'('K^E<=X%TR_ MNH]3N]-DCBNTC6&&63HI8Y8]#V'ZUZ%X=L]=M5N#KFH173,1Y0C&`HYSV'M^ M5*22-:,JLK-O3T1S7Q4FF6QTZ$`^0TC,S=MP`P/U-<;X1O['3/$EO>:@Q6&, M-A@I.&(P"0*]NN;6"\@:&YACFB;JDBA@?P-8K^"?#;MDZ5"#_LEA_(T*22LQ MU,/*53GBS@/'7BNVUYK>UL"[6T)+L[*5WMT&`>P&?SJCX:L+G^S]7U>.)BMM M:.D;8ZNPP@7^E^"=2OY[VXUYC+.Y=L7"@ M#V''2NID\'>'9'9VTFVW,OMG%>XZ?I&GZ5!)!8VD<,4ARZJ.&.,*["]TM--TZY6X,CAI7C.5"CD#/J3C\JYCPY!):VU_KK*1'9 MPLL3'H9G^48^F<_E7J0\&>'`^).K1WUWI M]O;R!X5A\_([[^GZ#]:;)J?A,ABOA"[+=A@J/T/%8LFGZSXGU=YH--E3S"%4 M;"L<2```9/8`"KW=V0+'<:;BWJSY_P!(FMK?6+.:\!-M',KR8&>` M<1YLFTJ`H.<<]2376R>#/#DKEFTF`$_W8^"]+DU/Q+;$1EH;=O.E..!CD` M_4XK$NY)9KVXDGR)GE8R9ZAB>:^@+'3[/38/(LK:*"/KMC7&?KZU1O?"VAZC M57` M!)].,_G7%>%;+[3K<<\B9MK(&YG/8*@R!^)`%>J?\(1X;_Z!47_?3?XU?BT+ M2X-.ET^*RBCM91B2-!C=]2.324DE9%2H3G)2E;0\'EDFO[YY#EIKB4M]68_X MFM3Q2ZC6C9QG,5C$EJO_``$?-_X]FO68/!WA^VN(YX=,B66-@Z-N8X(Z'K39 M?!GAZ:5Y9-,C9W8LS%FY)Y)ZT_:(S^J3M:Z*?P]L/L?A2&0C#W+M,?IT'Z#] M:ZJHX((K6WC@A0)%&H1%'0`=!4E9MW=SNA'EBHA1112*"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`_ "_]D_ ` end
-----END PRIVACY-ENHANCED MESSAGE-----