Entry into a Material Definitive Agreement
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 9, 2005
AMERCO
(Exact
Name of Registrant as Specified in Charter)
|
Nevada |
1-11255 |
88-0106815 |
|
(State
or Other Jurisdiction of Incorporation) |
Commission
File
Number |
IRS
Employer
Identification
No. |
1325
Airmotive Way, Ste. 100, Reno, Nevada 89502-3239
(Address
of Principal Executive Offices)(Zip Code)
(775)
688-6300
(Registrant's
telephone number, including area code)
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
1.01. Entry into a Material Definitive Agreement
On May 9,
2005, various subsidiaries of AMERCO received Loan Commitments from Merrill
Lynch Commercial Finance Corporation, Merril Lynch Mortgage Lending, Inc. and
Morgan Stanley Mortgage Capital, Inc. The description of the foregoing matters
is not complete and is qualified in its entirety by the full text of such
agreements and documents, that are filed as exhibits hereto and incorporated by
reference herein. The Loan Commitments are attached as exhibits 10.5, 10.1. and
10.4.
Item 1.02. Termination of a Material Definitive
Agreement
On May 9,
2005, and in connection with the acceptance of the above mentioned Loan
Commitments, AMERCO notified Wells Fargo Foothill, Inc., the administrative
agent for its Loan and Security Agreement, and Wells Fargo Bank, N.A., the
trustee for its 9% Second Lien Senior Secured Notes due 2009, and on May 12,
2005 AMERCO notified The Bank of New York, the trustee for its 12% Senior
Subordinated Notes due 2011, that it is exercising its right to terminate,
redeem and prepay the principal and accrued and unpaid interest under the
respective terms of the Loan and Security Agreement and the Note Agreements.
AMERCO will incur a one-time charge of approximately $34 million to pre-tax
earnings in the first quarter of fiscal 2006 associated with early payment of
the existing loans. These Notices are attached as exhibits 10.2, 10.3 and
10.6.
On May
12, 2005, AMERCO issued a press release announcing its refinancing plans, which
is attached as exhibit 10.7.
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.
Dated:
May 13, 2005
AMERCO
/s/
Jack
A. Peterson
Jack A.
Peterson, Chief Financial Officer of AMERCO