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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): SEPTEMBER 27, 1995
CONSOLIDATED PRODUCTS, INC.
(Exact name of registrant as specified in its charter)
INDIANA 0-8445 37-0684070
(State or other jurisdiction (Commission File Number) (I.R.S. Imployer
of incorporation) Identification No.)
500 CENTURY BUILDING, 36 S. PENNSYLVANIA STREET
INDIANAPOLIS, INDIANA 46204
(317) 633-4100
(Address, including zip code, and telephone number,
including area code, of registrant's principal executive offices)
THE INDEX TO EXHIBITS IS LOCATED AT PAGE 2. TOTAL PAGES 3
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ITEM 5. OTHER EVENTS
Effective September 27, 1995, the Company has entered into a new ten-year
$25,000,000 senior note agreement and private shelf facility (collectively, "the
new agreement") with Prudential Insurance Company of America ("Prudential").
The new agreement is unsecured and requires the Company, among other things, to
maintain certain financial ratios. As of September 27, 1995, the Company has
new borrowings of $10,000,000 outstanding under this new agreement.
Additionally, senior debt from a previous senior note agreement with Prudential
($14,250,000 outstanding at September 27, 1995) has been folded into the new
agreement, with an interest rate, payment schedule and maturity date consistent
with the previous agreement. The Company also extended the maturity date of its
$30,000,000 unsecured revolving line of credit by one year to December 31, 1997.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) EXHIBITS
Exhibit Description of Exhibit Page No.
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20.1 Press release dated October 5, 1995 regarding
the refinancing of the Company's Senior note
agreement with Prudential Insurance
Company of America. 3
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, on October 6, 1995.
CONSOLIDATED PRODUCTS, INC.
/S/ JAMES W. BEAR
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By: James W. Bear
Senior Vice President and
Chief Financial Officer
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[LOGO]
CONSOLIDATED PRODUCTS, INC.
ANNOUNCES NEW FINANCING ARRANGEMENT
Indianapolis, Indiana (October 5, 1995) - Consolidated Products, Inc.
(NASDAQ/NM:COPI) today announced that it has entered into an agreement to borrow
$25,000,000 under a senior note and private shelf agreement. Additionally, the
Company extended the maturity date of its $30,000,000 unsecured revolving line
of credit by one year to December 31, 1997. The borrowings will be used to
finance Steak n Shake's growth plan which calls for the opening of 295
restaurants, including 135 franchised, for the years 1996-2000.
Thirty-two Steak n Shake restaurants, including 11 franchised, were opened
in the fiscal year recently ended on September 27, 1995. With the opening of 32
restaurants, the Company substantially exceeded its ambitious growth plan for
fiscal 1995 calling for the opening of 23 Steak n Shake restaurants, including 9
franchised. The Company currently operates 171 Steak n Shake restaurants,
including 34 franchised, and 10 Specialty restaurants, primarily Colorado
Steakhouses. Fourteen Steak n Shake restaurants, including five franchised, and
one Colorado Steakhouse are currently under construction.
Contact: James W. Bear
Senior Vice President
