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
March
12, 2004
Date of Report (Date of earliest event reported)
WESTAR
ENERGY, INC.
(Exact name of registrant as specified in its charter)
| Kansas |
1-3523 |
48-0290150 |
| (State
or other jurisdiction |
(Commission file number) |
(I.R.S.
Employer |
818
South Kansas Avenue, Topeka, Kansas 66612
(Address of principal executive offices)
(785)
575-6300
(Registrant's telephone number, including area code)
WESTAR ENERGY, INC.
Item 5. Other Events
On March 12, 2004, we entered into a new senior secured revolving credit facility. The new credit facility replaces a $150 million revolving credit facility we entered into in 2002. The new credit facility is available until March 12, 2007 and allows us revolving borrowings up to a maximum of $300 million, which includes letters of credit up to a maximum aggregate amount of $50 million. The credit facility is secured by first mortgage bonds issued by Kansas Gas and Electric Company, our wholly owned subsidiary. Upon achievement of investment grade ratings from the major rating agencies, the first mortgage bonds will be released. The credit facility contains certain financial covenants and contains certain other covenants, including limitations on liens, investments, fundamental changes in the business, certain restricted payments, capital expenditures and transactions with affiliates. Certain of these limitations will be removed or modified upon achievement of higher than investment grade ratings from the major rating agencies. The proceeds from the new credit facility will be used for the retirement and redemption of debt and for general corporate purposes.
Item 7. Financial Statements and Exhibits
(c) Exhibits
| Exhibit 99.1 – | Press Release dated March 12, 2004. | |
| Exhibit 99.2 – | Credit Agreement, dated as of March 12, 2004, among WESTAR ENERGY, INC., the several banks and other financial institutions or entities from time to time parties to the Agreement, JPMORGAN CHASE BANK, as administrative agent, THE BANK OF NEW YORK, as syndication agent, and CITIBANK, N.A., UNION BANK OF CALIFORNIA, N.A. and WACHOVIA BANK, NATIONAL ASSOCIATION, as documentation agents |
The information contained in this report is summary information that is intended to be considered in the context of our SEC filings and other public announcements that we may make, by press release or otherwise, from time to time. We disclaim any current intention to revise or update the information contained in this report, although we may do so from time to time as our management believes is warranted. Any such updating may be made through the filing of other reports or documents with the SEC, through press releases or through other public disclosure.
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.
|
Westar Energy, Inc. |
|
| Date: March 15, 2004 | By /s/
Mark A. Ruelle Mark A. Ruelle, Executive Vice President and Chief Financial Officer |
| Exhibit Number | Description of Exhibit | |
| 99.1 | Press Release dated March 12, 2004. | |
| 99.2 | Credit Agreement, dated as of March 12, 2004, among WESTAR ENERGY, INC., the several banks and other financial institutions or entities from time to time parties to the Agreement, JPMORGAN CHASE BANK, as administrative agent, THE BANK OF NEW YORK, as syndication agent, and CITIBANK, N.A., UNION BANK OF CALIFORNIA, N.A. and WACHOVIA BANK, NATIONAL ASSOCIATION, as documentation agents | |