-----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, LwRarFj+g098KfYkeg7onJgZCLBnkECiY9z+SGHD1xVJzYM1Qr+iCkQK9SzBEU17 et7pGLEW9qI5sdqJFanF/g== 0000950134-07-014325.txt : 20070628 0000950134-07-014325.hdr.sgml : 20070628 20070628161937 ACCESSION NUMBER: 0000950134-07-014325 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070620 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant FILED AS OF DATE: 20070628 DATE AS OF CHANGE: 20070628 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ARCHSTONE SMITH OPERATING TRUST CENTRAL INDEX KEY: 0000080737 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 900042860 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10272 FILM NUMBER: 07947118 BUSINESS ADDRESS: STREET 1: 9200 E PANORAMA CIRCLE STREET 2: STE 400 CITY: ENGLEWOOD STATE: CO ZIP: 80112 BUSINESS PHONE: 3037085959 MAIL ADDRESS: STREET 1: 9200 E PANORAMA CIRCLE CITY: ENGLEWOOD STATE: CO ZIP: 80012 FORMER COMPANY: FORMER CONFORMED NAME: ARCHSTONE COMMUNITIES TRUST/ DATE OF NAME CHANGE: 19980707 FORMER COMPANY: FORMER CONFORMED NAME: SECURITY CAPITAL PACIFIC TRUST DATE OF NAME CHANGE: 19950417 FORMER COMPANY: FORMER CONFORMED NAME: PROPERTY TRUST OF AMERICA DATE OF NAME CHANGE: 19920703 8-K 1 d47867e8vk.htm FORM 8-K e8vk
 

 
 
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): June 20, 2007
ARCHSTONE-SMITH OPERATING TRUST
 
(Exact name of registrant as specified in charter)
         
Maryland   1- 10272   90-0042860
(State or other jurisdiction   (Commission File Number)   (I.R.S. Employer Identification
of Incorporation)       No.)
     
9200 E. Panorama Circle, Suite 400, Englewood, Colorado   80112
     
(Address of Principal Executive Offices)   (Zip Code)
(Registrant’s Telephone Number, including Area Code): (303) 708-5959
N/A
(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 (see General Instruction A.2. below):
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
     On June 20, 2007, IWG Wohnen 1. Objektgesellschaft MbH (“IWG 1”), IWG Wohnen 2. Objektgesellschaft MbH (“IWG 2”), IWG Wohnen 3. Objektgesellschaft MbH (“IWG 3”), and IWG Wohnen 4. Objektgesellschaft MbH (“IWG 4”), each a German limited liability company, and each a wholly-owned subsidiary of DeWAG Deutsche WohnAnlage GmbH (“DeWAG”), of which Archstone-Smith Operating Trust is the indirect owner of 94% of the shares, as borrowers, entered into a Credit Facility Agreement (the “Credit Agreement”) with ABN AMRO Bank, N.V., as arranger, original lender, original hedge counterparty, facility agent and security agent. DeWAG, as parent, executed the Credit Agreement to guaranty the obligations of the borrowers. The Credit Agreement refinances provides for a €510 million line of credit for the borrowers and will be used to refinance existing debt of the borrowers, to finance the purchase of certain additional properties, and to finance certain acquisition and initial capital expenditures. The loan has a term of seven years and bears interest at EURIBOR plus 64 basis points. On each interest payment date, the borrowers must procure that the loan to value of all properties in the aggregate does not exceed 75% and that the collateral property pool generates income providing at least 110% interest coverage. The loan will be secured by land charges against each property owned by the borrowers (excluding €14 million of property that cannot be pledged as collateral), pledges of the shares of each borrower and pledges of certain bank accounts of the borrowers. The foregoing description of the Credit Agreement is qualified in its entirety by reference to the full text of such agreement, a copy of which will be filed with our next quarterly report on Form 10-Q.
ITEM 2.03     CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.
     The information set forth under Item 1.01 of this report is incorporated herein by reference.

 

 

SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Trust has duly caused this report to be filed on its behalf by the undersigned thereunto duly authorized.
         
  ARCHSTONE-SMITH OPERATING TRUST
 		  
  By:   /s/ Thomas S. Reif    
Dated: June 28, 2007    Name:  Thomas S. Reif   
    Title:  Group Vice President and Associate General
Counsel 		  
 

 

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