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): June 14, 2017
EVERCORE PARTNERS INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-32975 | 20-4748747 | ||
| (State or other jurisdiction of incorporation) |
(Commission File No.) |
(IRS Employer Identification No.) |
55 East 52nd Street
New York, New York 10055
(Address of principal executive offices)
(212) 857-3100
(Registrant’s telephone number, including area code)
NOT APPLICABLE
(Former name or former address, if changed since last report)
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):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 under the Securities Act (17 CFR 230.405) or Rule 12b-2 under the Exchange Act (17 CFR 240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 1.01 | Entry Into a Material Definitive Agreement. |
On June 14, 2017, Evercore Partners Services East L.L.C., a wholly owned subsidiary of Evercore Partners Inc., renewed its $30.0 million line of credit (the “Line of Credit”) with PNC Bank, National Association available under that loan agreement and committed line of credit note governing the Line of Credit. As renewed, the Expiration Date set forth in the loan agreement and the committed line of credit note has been extended from June 23, 2017 to June 22, 2018. All other terms and conditions of the loan agreement, the committed line of credit note, the borrowing base rider and any related documents, instruments and agreements remain unchanged and in full force and effect.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit |
Description of the Exhibit | |
| 10.1 | Letter from PNC Bank, National Association, as lender, to Evercore Partners Services East L.L.C., as borrower, dated June 14, 2017. | |
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, hereunto duly authorized.
| EVERCORE PARTNERS INC. | ||
| By: |
/s/ Robert B. Walsh | |
| Name: Robert B. Walsh | ||
| Title: Chief Financial Officer | ||
Dated: June 20, 2017
Exhibit Index
| Exhibit |
Description of the Exhibit | |
| 10.1 | Letter from PNC Bank, National Association, as lender, to Evercore Partners Services East L.L.C., as borrower, dated June 14, 2017. | |
Exhibit 10.1
June 14, 2017
Evercore Partners Services East L.L.C.
55 East 52nd Street
New York, NY 10055
Attention: Robert B. Walsh, Chief Financial Officer
| Re: | Renewal of Expiration Date for that certain $30,000,000.00 Committed Line of Credit (“Line of Credit”) extended by PNC Bank, National Association (the “Bank”) to Evercore Partners Services East L.L.C. (the “Borrower”) |
Dear Mr. Walsh:
We are pleased to inform you that the Line of Credit has been renewed. The Expiration Date of the Line of Credit, as set forth in that certain Committed Line of Credit Note executed and delivered by the Borrower to the Bank dated June 24, 2016 (the “Note”) and that certain loan agreement governing the Line of Credit (the “Loan Agreement”), has been extended from June 23, 2017 to June 22, 2018, or such later date as may, in the Bank’s sole discretion, be designated by the Bank by written notice from the Bank to the Borrower, effective on June 24, 2017. All sums due under the Note, the Loan Agreement or any related documents, instruments and agreements (collectively as amended from time to time, the “Loan Documents”) shall be due and payable on the Expiration Date, as extended hereby. All other terms and conditions of the Loan Documents governing the Line of Credit remain in full force and effect.
It has been a pleasure working with you and I look forward to a continued successful relationship. Thank you again for your business.
Very truly yours,
PNC BANK, NATIONAL ASSOCIATION
| By: | /s/ Sheryl Jordan | |
| Sheryl Jordan, Senior Vice President | ||
| cc: | Evercore LP, Guarantor | |
| Evercore Group Holdings L.P., Guarantor | ||
Member of The PNC Financial Services Group
The Tower at PNC Plaza 300 Fifth Avenue Pittsburgh Pennsylvania 15222-2401
www.pnc.com