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):
April 4, 2003
KANSAS CITY SOUTHERN
(Exact name of company as specified in its charter)
DELAWARE 1-4717 44-0663509
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(State or other jurisdiction (Commission file (IRS Employer Identification
of incorporation) number) Number)
427 West 12th Street, Kansas City, Missouri 64105
(Address of principal executive offices) (Zip Code)
Company's telephone number, including area code:
(816) 983 - 1303
Not Applicable
(Former name or former address if changed since last report)
Item 5. Other Events
On April 4, 2003, Kansas City Southern, ("KCS" or "Company ") announced that
more than 96 percent of the lenders under its Amended and Restated Credit
Agreement approved the Company's request for waiver of the financial covenants
under the agreement. See the Press Release attached hereto as Exhibit 99.1 for
further details.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Document
(99) Additional Exhibits
99.1 Press Release issued by Kansas City
Southern dated April 4, 2003 entitled,
"Kansas City Southern Receives Financial
Covenants Waiver," is attached hereto as
Exhibit 99.1
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company
has duly caused this Report to be signed on its behalf by the undersigned
hereunto duly authorized.
Kansas City Southern
Date: April 7, 2003 By: /s/ Louis G. Van Horn
-----------------------------------------
Louis G. Van Horn
Vice President and Comptroller
(Principal Accounting Officer)
EXHIBIT 99.1
KANSAS CITY SOUTHERN PRESS RELEASE
427 WEST 12TH STREET, KANSAS CITY, MISSOURI 64105 NYSE SYMBOL: KSU
Date: April 4, 2003
Media Contact: William H. Galligan, 816-983-1551 or
william.h.galligan@kcsr.com
Kansas City Southern Receives Financial Covenants Waiver
Kansas City Southern (NYSE: KSU) (KCS) announced that on April 3, 2003,
more than 96 percent of the lenders under its Amended and Restated Credit
Agreement, approved the Company's request for waiver of the financial
covenants under the agreement.
As disclosed in KCS' 2002 Annual Report on Form 10-K recently filed
with the Securities and Exchange Commission, Grupo TMM and KCS, or either
Grupo TMM or KCS, could be required to purchase the Mexican government's
interest in TFM after October 31, 2003. The Company requested a waiver from
existing financial covenants in its Amended and Restated Credit Agreement
dated June 12, 2002, in order to provide flexibility in structuring the
funding for this transaction. Although the Company's cash position would
have allowed it to meet its financial covenants as of March 31, 2003, the
Company sought this waiver in order to maintain its current cash position
while analyzing financial alternatives.
Kansas City Southern is a transportation holding company that has
railroad investments in the U.S., Mexico and Panama. Its primary holding is
The Kansas City Southern Railway Company, which serves customers in the
central and south central regions of the U.S. KCS' rail holdings and
investments are primary components of a NAFTA Railway system that links the
commercial and industrial centers of the U.S., Canada and Mexico.
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