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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Act of 1934
September 25, 2000
Date of Report (date of earliest event reported)
BANCTEC, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-9859 75-1559633
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
2701 E. Grauwyler Road
Irving, Texas 75061
(Address of principal executive offices, including zip code)
(972) 579-6000
(Registrant's telephone number, including area code)
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ITEM 5. Other Events.
On September 25, 2000, and effective September 15, 2000, the Registrant amended
certain provisions of its Credit Agreement dated July 1999. The parties to the
amendment are Banctec, Inc. (the "Borrower"), several banks and other financial
institutions, ABN AMRO Bank, N.V., as Co-Agent, and The Chase Manhattan Bank
(formerly, Chase Bank of Texas, N.A.), as administrative agent and syndication
agent, collectively called "the Lenders". Pursuant to the amendment, less
stringent financial covenants are required of the Borrower for the quarters
ended June 30, 2000, September 30, 2000 and December 31, 2000. In addition, the
Lenders waived any covenant violation or event of default which has occurred or
would occur by virtue of such violation. These matters were agreed to in
consideration for an increase in the guarantee to the Lenders by the Borrower's
primary owners, Welsh, Carson, Anderson & Stowe ("WCAS") from $10.0 million to
$35.0 million, and for the Borrower's receipt of $15.0 million in cash proceeds
from a preferred stock issuance to WCAS.
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SIGNATURE
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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.
BANCTEC, INC.
By: /s/ Evelyn Henry Miller
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Evelyn Henry Miller
Senior Vice President and
Chief Financial Officer
Date: September 25, 2000
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