Each one in plain English, with the numbers worked through for a shareholder.
10 Feb 2011material agreement● Neutral
On February 4, 2011, Goodrich's subsidiary amended its bank credit agreement with BNP Paribas and the lenders. Letters of credit can run to December 31, 2011 (with 105% cash collateral if used), and the maximum interest coverage ratio was lowered from 3.0 to 1.0 to 2.5 to 1.0. The filing also adds the October 29, 2010 amendment that acknowledged a borrowing base increase and a new lender.
4 Jan 2011asset acquisition disposition● NeutralMajor
Goodrich closed the sale of some non-core shallow properties in East Texas and North Louisiana to SND Operating, L.L.C. on December 30, 2010, for about $65 million. This completes the sale agreed on October 27, 2010; the filing also includes pro forma financials showing the effect of the sale.