amendassetsec5098k.htm
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 19, 2009
______________
POOL CORPORATION
(Exact name of registrant as
specified in its charter)
______________
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Delaware
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0-26640
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36-3943363
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(I.R.S.
Employer Identification No.)
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109 Northpark Boulevard,
Covington, Louisiana
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70433-5001
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(Address
of principal executive offices)
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(Zip
Code)
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| |
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985-892-5521
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(Registrant's
telephone number, including area
code)
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Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligations 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.
On May
19, 2009, SCP Distributors LLC, and Superior Commerce LLC entered into Amendment
No. 14 to the Receivables Purchase Agreement among JPMorgan Chase Bank, N.A.
f/k/a Bank One, NA (Main Office Chicago) and JS Siloed Trust. The
amendment amends certain terms of the existing Receivables Purchase Agreement,
including the following: extending the maturity date to August 19, 2009;
increasing required reserves used in calculating the available funding
amount; and loosening the delinquency and default trigger ratios. In
addition the Company has reduced the size of the facility from $75.0 million to
$25.0 million. Due to the Company's declining debt levels as a result
of its cashflow generation strategies, the Company does not at this time intend
to renew the Receivables Facility.
The
description of the amendment set forth above is qualified by reference to the
amendment, which is filed as Exhibit 10.1 hereto.
Item
2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement.
The
information provided in Item 1.01 above is incorporated herein by
reference.
Item 9.01 Financial Statements
and Exhibits.
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Amendment
No. 14 to Receivables Purchase Agreement dated as of May 19, 2009, among
SCP Distributors LLC, Superior Commerce LLC, JS Siloed Trust, and JPMorgan
Chase Bank, N.A. f/k/a Bank One, NA (Main Office
Chicago).
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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.
POOL CORPORATION
By: /s/ Mark W.
Joslin
Mark W. Joslin
Vice President and Chief Financial
Officer
Dated:
May 19, 2009