SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
AUGUST 4, 1997
Date of Report (Date of earliest event reported)
STANDARD COMMERCIAL CORPORATION
(Exact name of registrant as specified in its charter)
NORTH CAROLINA
(STATE OR OTHER JURISDICTION OF INCORPORATION OR ORGANIZATION)
1-9875 13-1337610
(COMMISSION FILE NO.) (I.R.S. EMPLOYER IDENTIFICATION NO.)
2201 MILLER ROAD, WILSON, NORTH CAROLINA 27893
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES, INCLUDING ZIP CODE)
(919) 291-5507
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
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ITEM 5. OTHER EVENTS
On August 4, 1997, the Registrant issued the following press release
pursuant to Rule 135C promulgated under the Securities Act of 1933, as
amended:
"STANDARD COMMERCIAL REFINANCING
WILSON, NC--Standard Commercial Corporation (STW-NYSE), through its wholly-owned
subsidiary, Standard Commercial Tobacco Co., Inc., has completed a $115 million
Rule 144A private placement of 8 7/8% Senior Notes due 2005. Concurrently,
commitments of $200 million were obtained for a Global Bank Facility. These
fundings, in combination with the recent $47 million equity offering have
largely accomplished the Company's refinancing plans. Initially the Company will
use net proceeds of the funding to repay indebtedness outstanding under existing
bank credit facilities and certain long-term debt. The Global Bank Facility, in
addition to local lines in certain countries, will be used to finance tobacco
operations. Separate bank facilities exist to finance wool operations. The
Senior Notes have not been registered under the Securities Act of 1933, as
amended, or applicable state securities laws, and may not be offered or sold
absent registration under the Securities Act and applicable state securities
laws or applicable exemptions from registration requirements."
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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.
STANDARD COMMERCIAL CORPORATION
By: /s/ Robert E. Harrison
Robert E. Harrison
President
Date: August 4, 1997
