SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For the month of: April 2002
ABB Ltd
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(Exact name of registrant as specified in charter)
N/A
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(Translation of registrant's name into English)
Switzerland
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(Jurisdiction of organization)
P.O. Box 8131, Affolternstrasse 44, CH-8050, Zurich, Switzerland
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(Address of principal executive offices)
Registrant's telephone number, international: + 011-41-1-317-7111
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Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
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Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
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If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-________
This Form 6-K consists of the following:
1. Press release of ABB Ltd, dated April 26, 2002, in respect of the amendment
of its US$3 billion credit facility.
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Press Release
For your business and technology editors
ABB signs amended US$ 3 billion credit facility
Agreement with 20 banks further strengthens financial flexibility
Zurich, Switzerland, April 26, 2002 - ABB, the global power and automation
technology group, said today it has signed an amended US$ 3 billion committed
credit facility with 20 banks - a further step in strengthening the company's
financial flexibility.
"We are delighted that so many of our relationship banks have recommitted to
ABB," said Peter Voser, chief financial officer. "This facility gives us
committed financing and improved flexibility."
"The new facility is priced according to a credit rating table," added Voser.
"We will pay LIBOR plus 125 basis points at our current rating level."
The credit facility, originally signed in December 2001, was amended to remove a
credit rating trigger. Instead, the new facility includes market-based standard
financial covenants.
In line with ABB's target of reducing net debt and extending the maturity
profile of total debt, it will repay the facility by year-end, using operational
cash flow, planned capital market issues and proceeds from asset disposals. ABB
announced earlier this month that it planned to issue about US$ 2 billion in
convertible and straight bonds in the second quarter of 2002.
An investor roadshow for ABB's straight bond issue will start on April 30, with
planned launch and pricing in mid-May. ABB has mandated Barclays, Citigroup and
Credit Suisse First Boston as joint lead managers and bookrunners for the
straight bond issue.
ABB (www.abb.com) is a global leader in power and automation technologies that
enable utility and industry customers to improve performance while lowering
environmental impact. ABB has 152,000 employees in more than 100 countries.
For more information please contact:
Media Relations: Investor Relations:
ABB Corporate Communications, Zurich Switzerland: Tel. +41 43 317 38 04
Thomas Schmidt Sweden: Tel. +46 21 325 719
Tel: +41 1 317 6492 USA: Tel. + 1 203 750 7743
Fax: +41 43 317 7958 investor.relations@ch.abb.com
media.relations@ch.abb.com
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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, thereunto duly authorized.
ABB LTD
Date: April 26, 2002 By: /s/ BEAT HESS
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Name: Beat Hess
Title: Group Senior Officer
By: /s/ HANS ENHORNING
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Name: Hans Enhorning
Title: Group Vice President
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