SPX Technologies, Inc. — Capital/Financing Update 2010

Feb 23, 2010

8-K 1 a10-4453_18k.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): February 22, 2010

*SPX CORPORATION*

(Exact Name of Registrant as specified in Charter)

Delaware	1-6948	38-1016240
(State
or Other Jurisdiction of	(Commission
File Number)	(I.R.S.
Employer
Incorporation)		Identification
No.)

*13515 Ballantyne Corporate Place*

*Charlotte, North Carolina 28277*

(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code (704) 752-4400

*NOT APPLICABLE*

(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))

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*ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.*

*First Amendment to Senior Credit Facilities*

On February 22, 2010, SPX Corporation (the “Company”), the Foreign Subsidiary Borrowers parties thereto, the Subsidiary Guarantors parties thereto, the Lenders party thereto, Deutsche Bank AG Deutschlandgeschäft Branch, as Foreign Trade Facility Agent, and Bank of America, N.A., as Administrative Agent, entered into the first amendment to the Company’s existing senior credit facilities. The amendment (i) reset, with effect from and after the date of the amendment, the amount of extraordinary or non-recurring cash charges resulting from restructuring, severance, plant-closings, integration and other non-recurring events that may be added back to Consolidated EBITDA in such credit facilities, and (ii) facilitates letters of credit and foreign credit instruments the reimbursement obligations of which are assumed by the Company or any of its subsidiaries in acquisitions or other transactions permitted by the credit facilities to be deemed to be issued under the Company’s existing senior credit facilities. All capitalized terms used but not defined here are as defined in the Company’s senior credit facilities, as amended.

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*Item 9.01. Financial Statements and Exhibits.*

*(d) Exhibits*

Exhibit No.	Description
10.1	First Amendment, dated
February 22, 2010, to the Credit Agreement, dated as of
September 21, 2007, among SPX Corporation, the Foreign Subsidiary Borrowers party
thereto, The Bank of America, N.A., as Administrative Agent, Deutsche Bank AG
Deutschlandgeschäft Branch, as Foreign Trade Facility Agent, and the lenders
party thereto.

3

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SIGNATURE

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.

| /s/
Patrick J. O’Leary |
| --- |
| Patrick
J. O’Leary |
| Executive Vice President Finance, Treasurer and
Chief Financial Officer |

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Exhibit Index

Exhibit No.	Description
10.1	First Amendment, dated
February 22, 2010, to the Credit Agreement, dated as of
September 21, 2007, among SPX Corporation, the Foreign Subsidiary Borrowers party
thereto, The Bank of America, N.A., as Administrative Agent, Deutsche Bank AG
Deutschlandgeschäft Branch, as Foreign Trade Facility Agent, and the lenders
party thereto.

5

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