U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report: January 8, 2003
(Date of earliest event reported)
ALBANY INTERNATIONAL CORP.
(Exact name of registrant as specified in its charter)
Delaware 0-16214 14-0462060
(State or other jurisdiction (Commission (IRS employer
of incorporation) file number) identification no.)
1373 Broadway, Albany, New York 12204
(518) 445-2200
(Address and telephone number of the registrant's principal executive offices)
Item 5. Other Events and Required FD Disclosure
On January 8, 2004, Albany International Corp. issued a news release. A copy of
the news release is furnished as Exhibit 99.1 to this report.
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.
ALBANY INTERNATIONAL CORP.
By: /s/ Michael C. Nahl
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Name: Michael C. Nahl
Title: Senior Vice President and
Chief Financial Officer
Date: January 8, 2003
Index to Exhibits
Exhibit Number Description of Document
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99.1 News release, dated January 8, 2004 issued by Albany
International Corp.
ALBANY News
INTERNATIONAL Release
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For additional information contact:
David C. Michaels
Vice President-Treasury & Tax
518.445.2212
FOR IMMEDIATE RELEASE
ALBANY INTERNATIONAL ANNOUNCES NEW REVOLVING
CREDIT FACILITY
Albany, New York, January 8, 2004 - Albany International Corp.
(NYSE/PCX/FWB:AIN) reported today that it had entered into a new, five-year $460
million revolving credit facility with a group of banks. The new facility, which
is unsecured, replaces a $500 million facility that had been secured by a pledge
of shares of certain subsidiaries. At closing, the Company borrowed $200 million
under the new facility and, based upon the maximum leverage ratio permitted
under the new facility, could have borrowed an additional $240 million. While
interest rate margins, which continue to be determined by the Company's leverage
ratio, are comparable or slightly higher than rates under the previous facility,
the rate at the initial $200 million borrowing level is the same as under the
previous facility.
JPMorgan Chase Bank will continue to serve as Administrative Agent under
the new facility. In addition, Fleet National Bank and ABN AMRO Bank, N.V.
served as co-syndication agents, and Sumitomo Mitsui Banking Corp., New York and
Wachovia Bank, N.A. served as co-documentation agents.
Albany International is the world's largest producer of paper machine
clothing and high-performance doors, with manufacturing plants in 15 countries
and sales worldwide. Additional information about the Company's business and
products is available at www.albint.com.
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Albany International Corp.
P.O. Box 1907
Albany, New York 12201
www.albint.com