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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 EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): November 3, 2000
POLYMER GROUP, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-14330 57-1003983
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
4838 Jenkins Avenue 29405
North Charleston, SC (Zip Code)
Registrant's telephone number, including area code: (843) 566-7293
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Item 9. Regulation FD Disclosure.
In the Company's quarterly earnings conference call held on October 26, 2000,
Polymer Group, Inc., inadvertently stated that the Company's leverage ratio
covenant (defined as total debt to trailing twelve months EBITDA) for the end of
the fourth quarter 2001 was set at 6.25 to 1. This number is correct for the end
of the second quarter 2001, not the fourth quarter of 2001.
Listed below are the leverage ratio covenants per the bank amendment. A copy of
the entire amendment will be filed as an exhibit to the Polymer Group, Inc. 10Q
scheduled for release by November 14, 2000:
LEVERAGE RATIO
Period Ratio
From the Amendment No. 5 Effective
Date through but excluding the last 6.80 to 1
day of the fourth fiscal quarter in 2000
From the last day of the fourth fiscal
quarter in 2000 through but excluding the 6.85 to 1
last day of the first fiscal quarter in
2001
From the last day of the first fiscal
quarter in 2001 through but excluding 6.75 to 1
the last day of the second fiscal
quarter in 2001
From the last day of the second fiscal
quarter in 2001 through but excluding 6.25 to 1
the last day of the third fiscal quarter
in 2001
From the last day of the third fiscal
quarter in 2001 through but excluding 5.50 to 1
the last day of the fourth fiscal quarter
in 2001
From the last day of the fourth fiscal
quarter in 2001 through but excluding 5.00 to 1
the last day of the first fiscal quarter in
2002
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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.
POLYMER GROUP, INC.
Dated: November 3, 2000 By: /s/ Jerry Zucker
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Jerry Zucker
Chairman, President,
Chief Executive Officer, and
Director
(Principal Executive Officer)
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