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): October 21, 2004
NEW CENTURY FINANCIAL CORPORATION
(Exact Name of Registrant as Specified in Charter)
| Maryland | 001-32314 | 56-2451736 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) | (IRS Employer Identification No.) | ||
| 18400 Von Karman Avenue, Suite 1000, Irvine, California |
92612 | |||
| (Address of Principal Executive Offices) | (Zip Code) | |||
Registrant’s telephone number, including area code: (949) 440-7030
Former name or former address, if changed since last report: N/A
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:
| ¨ | 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)) |
SECTION 1 – REGISTRANT’S BUSINESS AND OPERATIONS
Item 1.01 Entry into a Material Definitive Agreement
On October 21, 2004, New Century Financial Corporation (“NCFC”) entered into a Guaranty of New Century Financial Corporation (the “NCFC Guaranty”) in favor of Citibank, N.A. The purpose of the NCFC Guaranty was to replace the guaranty entered into by New Century TRS Holdings, Inc., a wholly-owned subsidiary of NCFC (“NCTRS”), dated September 5, 2003, in favor of Citibank, N.A., for the purpose of guarantying the obligations of NC Capital Corporation, an indirect wholly-owned subsidiary of NCTRS (“NCCC”), under the Master Agreement dated as of September 5, 2003, between NCCC and Citibank, N.A. Citibank, N.A. requested that NCFC enter into the NCFC Guaranty because NCFC became the ultimate parent company of NCCC effective October 1, 2004. The NCFC Guaranty is filed as Exhibit 10.1 to this Current Report and is incorporated herein by reference.
SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01 Financial Statements and Exhibits
(c) Exhibits.
| Exhibit No. |
Description of Exhibit | |||
| 10.1 | Guaranty of New Century Financial Corporation, dated as of October 21, 2004, by New Century Financial Corporation in favor of Citibank, N.A. | |||
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| NEW CENTURY FINANCIAL CORPORATION | ||||||||
| October 26, 2004 |
By: | /s/ Robert K. Cole | ||||||
| Robert K. Cole | ||||||||
| Chairman and Chief Executive Officer | ||||||||
EXHIBIT INDEX
| Exhibit No. |
Description of Exhibit | |
| 10.1 | Guaranty of New Century Financial Corporation, dated as of October 21, 2004, by New Century Financial Corporation in favor of Citibank, N.A. | |