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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
SEPTEMBER 22, 2000
Date of Report (Date of earliest event reported)
Commission file number 1-10841
GREYHOUND LINES, INC.
and its Subsidiaries identified in Footnote (1) below
(Exact name of registrant as specified in its charter)
DELAWARE 86-0572343
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification no.)
15110 N. DALLAS PARKWAY, SUITE 600
DALLAS, TEXAS 75248
(Address of principal executive offices) (Zip code)
(972) 789-7000
(Registrant's telephone number, including area code)
NONE
(Former name, former address and former fiscal year, if changed since
last report)
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CO-REGISTRANTS
This Form 8-K is also being filed by the following entities. Except as set forth
below, each entity has the same principal executive offices, zip code and
telephone number as that set forth for Greyhound Lines, Inc. on the cover of
this report:
<TABLE>
<CAPTION>
I.R.S. EMPLOYER JURISDICTION
COMMISSION IDENTIFICATION OF
NAME FILE NO. NO. INCORP.
---- ------------ --------------- -------------
<S> <C> <C> <C>
Atlantic Greyhound Lines of Virginia, Inc. 333-27267-01 58-0869571 Virginia
GLI Holding Company 333-27267-04 75-2146309 Delaware
Greyhound de Mexico, S.A. de C.V. 333-27267-05 None Republic of
Mexico
Sistema Internacional de Transporte de Autobuses, Inc. 333-27267-08 75-2548617 Delaware
Texas, New Mexico & Oklahoma Coaches, Inc. 333-27267-10 75-0605295 Delaware
1313 13th Street
Lubbock, Texas 79408
(806) 763-5389
T.N.M. & O. Tours, Inc. 333-27267-11 75-1188694 Texas
(Same as Texas, New Mexico & Oklahoma Coaches, Inc.)
Vermont Transit Co., Inc. 333-27267-12 03-0164980 Vermont
345 Pine Street
Burlington, Vermont 05401
(802) 862-9671
</TABLE>
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GREYHOUND LINES, INC. AND SUBSIDIARIES
ITEM 5. OTHER EVENTS
Laidlaw Inc. ("Laidlaw"), the parent of Greyhound Lines, Inc. ("Greyhound")
announced that, as a result of ongoing discussions with its banks and debenture
holders, Laidlaw anticipates that it will obtain secured financing facilities,
which will be sufficient to satisfy its projected seasonal and ongoing working
capital needs, as well as its near-term capital expenditure needs.
Laidlaw has been discussing financing arrangements, which would provide one or
more of the following, each of which is subject to negotiations and execution of
definitive documentation:
o Up to a $200 million revolving credit facility and a $50 million
sub-facility for letters of credit (LOCs) for Laidlaw from a group of
financial institutions led by Canadian Imperial Bank of Commerce.
o Up to a $125 million revolving facility with a $25 million LOC
sub-facility for Greyhound from Foothill Capital Corporation.
o An accounts receivable securitization transaction, which will provide
up to $150 million.
Laidlaw is soliciting the consent of holders of Laidlaw's debentures to waive
compliance with certain provisions of the indentures relating to the incurrence
of secured indebtedness, thus allowing these new financing facilities to be put
in place.
Should Greyhound close the Foothill facility or otherwise elect not to enter
into the banking-syndicate facility, the bank facility would be reduced by an
amount to be agreed upon. In addition, Greyhound has entered into a commitment
for an alternate short-term facility that does not require the consent of
holders of Laidlaw's debentures.
In addition to the consent of the debenture holders, Laidlaw is seeking the
consent of the lenders under its syndicated bank facility to complete the
foregoing financing transactions.
This Form 8-K contains forward-looking statements that involve a number of risks
and uncertainties. Among the important factors that could cause actual results
to differ materially from those indicated by such forward-looking statements are
competitive pressures, changes in pricing policies, business conditions in the
marketplace, general economic conditions, cooperation of lenders and debt
security holders, negotiation and execution of definitive documentation for the
financing facilities and the risk factors detailed from time to time in
Greyhound's periodic reports and registration statements filed with the
Securities and Exchange Commission
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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.
Date: September 22, 2000
GREYHOUND LINES, INC.
By: /s/ Jeffrey W. Sanders
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Jeffrey W. Sanders
Senior Vice President and Chief Financial
Officer
ATLANTIC GREYHOUND LINES OF
VIRGINIA, INC.
By: /s/ Jeffrey W. Sanders
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Jeffrey W. Sanders
Senior Vice President and Chief Financial
Officer
GLI HOLDING COMPANY
By: /s/ Jeffrey W. Sanders
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Jeffrey W. Sanders
Senior Vice President and Chief Financial
Officer
GREYHOUND de MEXICO S.A. de C.V.
By: /s/ Cheryl W. Farmer
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Cheryl W. Farmer
Examiner
SISTEMA INTERNACIONAL de TRANSPORTE de
AUTOBUSES, INC.
By: /s/ Jeffrey W. Sanders
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Jeffrey W. Sanders
Senior Vice President and Chief Financial
Officer
TEXAS, NEW MEXICO & OKLAHOMA
COACHES, INC.
By: /s/ Jeffrey W. Sanders
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Jeffrey W. Sanders
Senior Vice President and Chief Financial
Officer
T.N.M. & O. TOURS, INC.
By: /s/ Jeffrey W. Sanders
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Jeffrey W. Sanders
Senior Vice President and Chief Financial
Officer
VERMONT TRANSIT CO., INC.
By: /s/ Jeffrey W. Sanders
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Jeffrey W. Sanders
Senior Vice President and Chief Financial
Officer
