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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT TO
SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): APRIL 16, 2003
TWEETER HOME ENTERTAINMENT GROUP, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-24091 04-3417513
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
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40 PEQUOT WAY
CANTON, MASSACHUSETTS 02021
(781) 830-3000
(Address,including zip code, of registrant's principal executive offices
and registrant's telephone number, including area code)
Item 5. Other Events
On April 16, 2003, the registrant concluded arrangements with Fleet National
Bank (its existing lender) and Fleet Retail Finance Inc., on behalf of
themselves and other co-lenders, for a new three-year senior secured revolving
credit facility in the amount of $110 million. The facility will replace the
existing $100 million line which was due to expire on June 30, 2003.
Availability going forward will be based on a borrowing base tied to a
percentage of eligible inventory, receivables and real estate. The interest rate
structure on the new facility ranges from a margin of 2.00% to 2.50% over the
LIBOR rate or 0% to .25% over the prime rate. The line is secured by
substantially all of the assets of the registrant and its subsidiaries and
contains various covenants and restrictions. The borrowers under the credit
facility will be subsidiaries of the registrant, and the registrant will be a
guarantor of any amounts borrowed. A copy of the credit agreement and the
registrant's guarantee are filed herewith as Exhibits 10.1 and 10.2.
Item 7. Financial Statements and Exhibits
(a) Exhibits.
10.1 Credit Agreement dated as of April 16, 2003.
10.2 Guarantee dated as of April 16, 2003.
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SIGNATURES
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.
TWEETER HOME ENTERTAINMENT GROUP, INC.
DATED: April 23, 2003
By: /s/ Joseph G. McGuire
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Joseph G. McGuire
Senior Vice President and Chief Financial Officer
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EXHIBIT INDEX
Exhibit No. Description
10.1 Credit Agreement dated as of April 16, 2003.
10.2 Guarantee dated as of April 16, 2003.
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