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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)
DECEMBER 28, 2000 (DECEMBER 15, 2000)
KBK CAPITAL CORPORATION
Exact Name of Registrant as Specified in its Charter
DELAWARE 0-24220 75-2416103
State of Incorporation or Commission File Number I.R.S. Employer
Organization Identification No.
301 COMMERCE, SUITE 2200
FORT WORTH, TEXAS 76102-4122
Address of Principal Executive Offices (Zip Code)
(817) 258-6000
Registrant's telephone number,
including area code
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INFORMATION TO BE INCLUDED IN THE REPORT
ITEM 5. OTHER EVENTS.
On December 15, 2000, KBK Capital Corporation (the "Company") completed
a securitization (the "Securitization") of assets through its wholly-owned
subsidiaries, KBK Financial, Inc. ("Financial") and KBK Acceptance Company LP
("Acceptance"), pursuant to which Financial sells assets to Acceptance and
Acceptance borrows up to $200,000,000 (which may be increased to $350,000,000
upon the agreement of the relevant parties) to finance those purchases. The
Securitization has a term of five years, and replaces a prior securitization
involving another subsidiary of Financial and borrowings by Financial under a
syndicated credit facility. The Purchase and Sale Agreement and the Receivable
Financing Agreement entered into in connection with the Securitization are
attached hereto as Exhibits 99.1 and 99.2.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits. The following exhibits are filed as part of this
report:
99.1 Purchase and Sale Agreement dated as of December 15,
2000 between Financial and Acceptance.
99.2 Receivables Financing Agreement dated December 15,
2000 among Acceptance; Financial; and the various
financial institutions named therein.
99.3 Press Release issued by the Company on December 18,
2000.
ITEM 9. REGULATION FD DISCLOSURE.
The Company is furnishing under Item 9 of this Current Report on Form
8-K the information included as Exhibit 99.3 to this report. Exhibit 99.3 is the
Company's press release, dated December 18, 2000, that announces the
Securitization.
The information in Item 9 of this Current Report on Form 8-K, including
Exhibit 99.3, is furnished pursuant to Item 9 and shall not be deemed to be
"filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 or
otherwise subject to the liabilities of that Section.
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SIGNATURE
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: December 28, 2000
KBK CAPITAL CORPORATION
By: /s/ Deborah B. Wilkinson
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Deborah B. Wilkinson
Executive Vice President,
Chief Financial Officer, Secretary
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INDEX TO EXHIBITS
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EXHIBIT
NUMBER DESCRIPTION
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99.1 Purchase and Sale Agreement dated as of December 15, 2000 between
Financial and Acceptance.
99.2 Receivables Financing Agreement dated December 15, 2000 among
Acceptance; Financial; and the various financial institutions
named therein.
99.3 Press Release issued by the Company on December 18, 2000.
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