0000038067-13-000075.txt : 20130715 0000038067-13-000075.hdr.sgml : 20130715 20130715074735 ACCESSION NUMBER: 0000038067-13-000075 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20130712 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130715 DATE AS OF CHANGE: 20130715 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FOREST CITY ENTERPRISES INC CENTRAL INDEX KEY: 0000038067 STANDARD INDUSTRIAL CLASSIFICATION: OPERATORS OF NONRESIDENTIAL BUILDINGS [6512] IRS NUMBER: 340863886 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04372 FILM NUMBER: 13967038 BUSINESS ADDRESS: STREET 1: 1100 TERMINAL TOWER STREET 2: 50 PUBLIC SQ CITY: CLEVELAND STATE: OH ZIP: 44113 BUSINESS PHONE: 216-621-6060 MAIL ADDRESS: STREET 1: 1100 TERMINAL TOWER STREET 2: 50 PUBLIC SQUARE CITY: CLEVLAND STATE: OH ZIP: 44113 8-K 1 form8-kputterminationresul.htm 8-K Form 8-K Put Termination Results


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): July 12, 2013
_____________________________________________________________
Forest City Enterprises, Inc.
(Exact name of registrant as specified in its charter)
_____________________________________________________________

Ohio
(State or other jurisdiction of
incorporation or organization)
 
1-4372
(Commission
File Number)
 
34-0863886
(I.R.S. Employer
Identification No.)
 
 
 
 
 
Terminal Tower, 50 Public Square
Suite 1100, Cleveland, Ohio
 
44113
(Address of principal executive offices)
 
(Zip Code)
 
 
 
Registrant's telephone number, including area code: 216-621-6060
 
 
 
 
 
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))






Item 8.01 Other Events.

As previously announced on May 31, 2013, Forest City Enterprises, Inc. (the “Company”) issued a put rights termination notice to the holders of the Company's outstanding 3.625% Puttable Equity-Linked Senior Notes due 2014 (the “Notes”). On July 15, 2013, the Company issued a press release announcing the results of the put rights termination. As of July 12, 2013, the last settlement date associated with the Notes put to the Company, $60,033,000 aggregate principal amount of the Notes were put, for which holders received 4,128,806 shares of Class A Common Stock and cash payments totaling $1,088,306 for interest payable to October 15, 2013 and in lieu of fractional shares.

Following the settlement of the put transactions, $1,114,000 aggregate principal amount of the Notes remain outstanding. All terms of the Indenture, other than the terms related to the put rights of the Notes, remain unchanged.

A copy of the press release is “furnished” as Exhibit 99.1 to this Current Report on Form 8-K. The information in Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (“Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act.

Item 9.01. Exhibits.

(d)
Exhibits

Exhibit
Number
 
Description
99.1
-
Press release dated July 15, 2013, announcing the put rights termination results.








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.

 
 
FOREST CITY ENTERPRISES, INC.
 
 
 
 
 
 
By:
/s/ ROBERT G. O'BRIEN
 
 
Name:
Robert G. O’Brien
 
 
Title:
Executive Vice President and Chief Financial Officer
 
 
 
 
Date:
July 15, 2013
 
 






EXHIBIT INDEX

Exhibit
Number
 
Description
99.1
-
Press release dated July 15, 2013, announcing the put rights termination results.



EX-99.1 2 fce991-pressreleaseputterm.htm EXHIBIT FCE 99.1-Press Release Put Termination Results


Exhibit 99.1
AT THE COMPANY  
ON THE WEB
Robert O’Brien
www.forestcity.net
Executive Vice President – Chief Financial Officer
 
216-621-6060
 
 
 
Jeff Linton
 
Senior Vice President – Corporate Communication
 
216-621-6060
 

FOR IMMEDIATE RELEASE

Forest City Reports Results of Noteholder Actions
Related to Termination of Put Rights on Senior Notes due 2014

CLEVELAND, Ohio - July 15, 2013 - Forest City Enterprises, Inc., (NYSE: FCEA and FCEB) today reported the results of noteholder actions related to the previously announced termination by the company of put rights associated with its outstanding 3.625% Puttable Equity-Linked Senior Notes due 2014 (the “Notes”).
As previously announced, holders had through June 20, 2013, to put their Notes to the company and receive 68.7758 shares of the company's Class A common stock per $1,000 principal amount of Notes, together with a cash payment for interest payable on such Notes through October 14, 2013 and in lieu of fractional shares.

As of July 12, 2013, the final settlement date for the put transactions, approximately $60.0 million aggregate principal amount of the Notes were put to the company, for which holders received a total of approximately 4.1 million shares of the company's Class A common stock, together with approximately $1.1 million for interest payable. After the transactions, approximately $1.1 million aggregate principal amount of the Notes remain outstanding.

“The elimination of these notes and ongoing interest payments reflects our continuing focus on further improving our balance sheet and debt metrics,” said David J. LaRue, Forest City president and chief executive officer.

About Forest City
Forest City Enterprises, Inc. is an NYSE-listed national real estate company with $10.6 billion in total assets. The company is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate and land throughout the United States. For more information, visit www.forestcity.net.