UNITED STATES

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):  March 17, 2009

 

BOWATER INCORPORATED

(Exact name of Registrant as Specified in Charter)

 

 

 

 

 

 

Delaware

 

001-8712

 

62-0721803

(State or other Jurisdiction of

Incorporation or Organization)

 

(Commission File Number)

 

(I.R.S. Employer

Identification Number)

 

 

 

 

 

Bowater Incorporated

55 East Camperdown Way

Greenville, South Carolina

29602

 

(Address of principal executive offices)

(Zip Code)

     
     
 

(864) 271-7733

 
 

(Registrant's telephone number, including area code)

 

 


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):  

o

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 



 
Item 8.01.

Other Events

   
 

As previously reported on the Form 8-K filed by Bowater Incorporated ("Bowater") on March 4, 2009, on February 27, 2009, AbitibiBowater Inc. ("AbitibiBowater"), Bowater, Bowater Newsprint South LLC ("Newsprint South"), each a wholly owned subsidiary of AbitibiBowater, and certain subsidiaries of Bowater and Newsprint South, entered into amendments to Bowater's U.S. and Canadian credit agreements (as amended, the "Credit Agreements").  As amended, the Credit Agreements provide for, among other things, (i) a reduction of the outstanding overadvance permitted by the Credit Agreements by approximately $15 million and (ii) a reduction of the maximum amount of available foreign accounts receivable included in the borrowing base of each Credit Agreement by $15 million, with each such reduction to occur on March 17, 2009 (the "Reversion Date"). 

   
  On March 17, 2009, the parties entered into a letter agreement pursuant to which the Reversion Date was extended to March 24, 2009.  All other material terms and conditions of the Credit Agreements remain in full force and effect.
   
   

    

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Signature

Pursuant to the requirements of the Securities Exchange Act of l934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

  BOWATER INCORPORATED
     
     
  By:
/s/ William G. Harvey
Dated: March 19, 2009   Name: William G. Harvey
   

Title: Senior Vice-President and Treasurer

 

 

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