UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: December 21, 2004
UNIVERSAL FOREST PRODUCTS, INC.
(Exact name of registrant as specified in its charter)
MICHIGAN 0-22684 38-1465835
(State or other jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
2801 EAST BELTLINE, NE
GRAND RAPIDS, MICHIGAN 49525
(Address of principal executive offices) (Zip Code)
(616) 364-6161
(Registrant's telephone number, including area code)
NONE
(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 obligations of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425).
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12).
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b)).
[ ] 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 December 20, 2004, the Registrant and certain of its wholly-owned
subsidiaries completed a five-year, $250 million unsecured revolving
credit facility with a syndicate of U.S. and Canadian banks led by
JPMorgan Chase Bank, N.A., as agent, including up to $65 million which
may be reserved for letters of credit and up to CA$30 million which
may be borrowed and shall be repaid in Canadian dollars. This facility
replaced our $200 million unsecured revolving credit facility. The
amount outstanding on the revolving credit facility on December 20,
2004 was $17.4 million. Cash borrowings are charged interest based
upon an index equal to the Eurodollar rate (in the case of borrowings
in US Dollars) or the bankers' acceptance rate quoted by JP Morgan
Chase Bank, N.A., Toronto Branch (in the case of borrowings in
Canadian Dollars), plus a margin (ranging from 42.5 to 107.5 basis
points) based upon the financial performance of the Registrant and
certain of its subsidiaries. The companies are also charged a facility
fee on the entire amount of the lending commitment (ranging from 12.5
to 30 basis points, based upon company performance), and a usage
premium (ranging from 7.5 to 12.5 basis points, based upon company
performance) at times when borrowings exceed $125 million.
A copy of the Credit Agreement is attached as Exhibit 10(i) to this
Current Report.
Item 9.01 Financial Statements, Pro Forma Financial Information, and Exhibits
(c) Exhibits
10(i) Series 2004-A, Credit Agreement dated December 20, 2004.
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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, thereunto duly authorized.
UNIVERSAL FOREST PRODUCTS, INC.
(Registrant)
Dated: December 21, 2004
By: /s/ Michael R. Cole
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Michael R. Cole, Chief Financial
Officer and Treasurer
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EXHIBIT INDEX
Exhibit Number Document
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10(i) Series 2004-A, Credit Agreement dated December 20, 2004.
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