2009-6-18 ACE Limited (NYSE: ACE) 8-K

http://www.sec.gov/Archives/edgar/data/896159/000119312509132910/0001193125-09-1329...
-----BEGIN PRIVACY-ENHANCED MESSAGE----Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Gn+wwwq8AjrdyVQ6h4/DDlrLvjNNP2rsOuRQzOSkIwCmiKzjDehA/H24d20LOE33 FHAfF7OgOMRK10DK14V7ow== <SEC-DOCUMENT>0001193125-09-132910.txt : 20090618 <SEC-HEADER>0001193125-09-132910.hdr.sgml : 20090618 <ACCEPTANCE-DATETIME>20090618091402 ACCESSION NUMBER: 0001193125-09-132910 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20090616 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant FILED AS OF DATE: 20090618 DATE AS OF CHANGE: 20090618 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTRAL INDEX KEY: STANDARD INDUSTRIAL CLASSIFICATION: IRS NUMBER: STATE OF INCORPORATION: FISCAL YEAR END: FILING VALUES: FORM TYPE: SEC ACT: SEC FILE NUMBER: FILM NUMBER: BUSINESS ADDRESS: STREET 1: STREET 2: CITY: STATE: ZIP: BUSINESS PHONE: MAIL ADDRESS: STREET 1: CITY: STATE: ZIP: </SEC-HEADER> <DOCUMENT> <TYPE>8-K <SEQUENCE>1 <FILENAME>d8k.htm <DESCRIPTION>FORM 8-K <TEXT> <HTML><HEAD> <TITLE>Form 8-K</TITLE> </HEAD> <BODY BGCOLOR="WHITE"> 8-K 1934 Act 001-11778 09897874 ACE BLDG 30 WOODBOURNE AVE HAMILTON HM 08 BERMU D0 00000 8092955200 P O BOX HM 1015 HAMITON BERMUDA D0 00000 ACE LTD 0000896159 FIRE, MARINE & CASUALTY INSURANCE [6331] 000000000 D0 1231
 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 <center> </center> <center> < ALIGN="center">Current Report Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) June 16, 2009 STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%"> </center> (Exact name of registrant as specified in its charter) </center> < <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">
<TR> <TD WIDTH="34%"></TD> <TD VALIGN="bottom" WIDTH="1%"></TD> <TD WIDTH="32%"></TD> <TD VALIGN="bottom" WIDTH="1%"></TD> <TD WIDTH="32%"></TD></TR> <TR> <TD VALIGN="top" ALIGN="center">Switzerland</TD> <TD VALIGN="bottom"> </TD> <TD VALIGN="top" ALIGN="center">1-11778</TD> <TD VALIGN="bottom"> </TD> <TD VALIGN="top" ALIGN="center">98-0091805</TD></TR> <TR> <TD VALIGN="top" ALIGN="center"> (State or other jurisdiction of incorporation)</TD> <TD VALIGN="bottom"> </TD> <TD VALIGN="top" ALIGN="center">(Commission File Number)</TD> <TD VALIGN="bottom"> </TD> <TD VALIGN="top" ALIGN="center"> (I.R.S. Employer Identification No.)</TD></TR> </TABLE> Bärengasse 32 Zurich, Switzerland CH-8001 Registrants telephone number, including area code: +41 (0)43 456 76 0 STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> <center> < FACE="Times New Roman" SIZE="2">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 follow <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%"> <TR> <TD WIDTH="4%" VALIGN="top" ALIGN="left">¨</TD> <TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <TR> <TD WIDTH="4%" VALIGN="top" ALIGN="left">¨</TD> <TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%"> <TR> <TD WIDTH="4%" VALIGN="top" ALIGN="left">¨</TD> <TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR> STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%"> <TR> <TD WIDTH="4%" VALIGN="top" ALIGN="left">¨</TD> <TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR> STYLE="font-size:6px;margin-top:0px;margin-bottom:0px"> 
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http://www.sec.gov/Archives/edgar/data/896159/000119312509132910/0001193125-09-1329...
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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%"> <TR> <TD WIDTH="10%" VALIGN="top" ALIGN="left">Item 1.01</TD> <TD ALIGN="left" VALIGN="top">Entry into a Material Definitive Agreement </TD></TR></TABLE> ACE Limited (ACE) entered into a five-year, unsecured letter of credit facility (the LOC Agreement) with Deutsche Bank AG, New York Branch, which perm (LOCs) by ACE Limited. The LOCs will be used for general corporate purposes of ACE and its subsidiaries. LOCs may be issued to support the obligations of any wholly-owne STYLE="margin-top:12px;margin-bottom:0px">This new credit facility supplements ACEs existing letter of credit and revolving credit facilities. A credit capacity will facilitate collateral management through periods of financial market volatility and increased catastrophe severity that might occur in the near term. The covenants in the LOC Agreement are substantially similar to the covenants in other ACE group credit facilities. The covenants include limitations on lie exceptions and thresholds). The LOC Agreement also contains financial covenants that require: <FONT FACE="Times New Roman" SIZE="2" less than $9.570 billion (subject to an annual reset provision) plus 25 percent of cumulative net income from December 31, 2006, plus 50 percent of the net proceeds of any issuance of (ii) maintenance of a ratio of total debt (excluding trust preferred securities and mezzanine capitalization) to total capitalization of not greater than 0.35 to 1. In addition, the LOC A to certain materiality thresholds and grace periods) payment default, failure to comply with covenants, material inaccuracy of representation or warranty, bankruptcy or insolvency proceedi credit agreements. ACE pays an annual facility fee on the entire amount available under the L terminate any portion of the availability under the LOC Agreement prior to the scheduled maturity date, then ACE will be obligated to pay an unwind fee. In addition to the foregoing fees, customary administrative charges of the issuer of any letter of credit issued under the LOC Agreement. <HR SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
Cautionary Statement Regarding Forward-Looking Statements: Forward-looking statements made in this Current Report on Form 8-K, such as statements regarding collatera respect to future events and performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and unce materially from those set forth in these statements. For example, the companys forward-looking statements about its collateral management could be affected by unanticipated market ev performance is also subject to factors identified in the companys other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on thes dates on which they are made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or oth STYLE="font-size:18px;margin-top:0px;margin-bottom:0px"> <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%"> <TR> <TD WIDTH="10%" VALIGN="top" ALIGN="left">Item 2.03</TD> <TD ALIGN="left" VALIGN="top">Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant See Item 1.01 above which is incorporated herein by reference. 2 <HR SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
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 author STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> <DIV ALIGN="right"> <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0"> <TR> <TD WIDTH="6%"></TD> <TD VALIGN="bottom" WIDTH="2%"></TD> <TD WIDTH="92%"></TD></TR> <TR> <TD VALIGN="top" COLSPAN="3">ACE LIMITED</TD></TR> <TR> <TD HEIGHT="16"></TD> <TD HEIGHT="16" COLSPAN="2"></TD></TR> <TR> <TD VALIGN="top">By:</TD> <TD VALIGN="bottom"> </TD> <TD VALIGN="top"> /s/ Philip V. Bancroft</TD></TR> <TR> <TD VALIGN="top"></TD> <TD VALIGN="bottom"> </TD> <TD VALIGN="top">Philip V. Bancroft</TD></TR> <TR> <TD VALIGN="top"></TD> <TD VALIGN="bottom"> </TD> <TD VALIGN="top">Chief Financial Officer</TD></TR> </TABLE></DIV> DATE: June 17, 2009 </BODY></HTML> </TEXT> </DOCUMENT> </SEC-DOCUMENT> -----END PRIVACY-ENHANCED MESSAGE-----
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2009-6-18 ACE Limited (NYSE: ACE) 8-K

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2009-6-18 ACE Limited (NYSE: ACE) 8-K

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http://www.sec.gov/Archives/edgar/data/896159/000119312509132910/0001193125-09-1329...

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