SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For the month of: December 2002
Commission File Number: 001-16429
ABB Ltd
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(Exact name of registrant as specified in charter)
N/A
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(Translation of registrant's name into English)
Switzerland
(Jurisdiction of organization)
P.O. Box 8131, Affolternstrasse 44, CH-8050, Zurich, Switzerland
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(Address of principal executive offices)
Registrant's telephone number, international:+ 011-41-1-317-7111
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Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F X Form 40-F
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Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
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If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-
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This Form 6-K consists of the following:
1. Press Release of ABB Ltd. dated December 18, 2002 announcing the execution of
a US $1.5 billion credit facility agreement.
-2-
Press Release
For your business and technology editors
ABB signs US$ 1.5 billion credit facility
Agreement with banks covers liquidity needs for next two years
Zurich, Switzerland, December 18, 2002 - ABB, the leading power and automation
technology group, said today it has signed a US$ 1.5 billion credit facility
agreement with a group of 20 banks, covering the company's liquidity needs for
2003 and 2004.
The facility is secured by a package of ABB assets, including the Oil, Gas and
Petrochemicals division, which is earmarked for divestment in 2003.
"The agreement provides sufficient liquidity for 2003 and 2004, and allows us to
implement our program to lower our cost base, focus on our core businesses, and
achieve the best value from our divestments," said Peter Voser, chief financial
officer.
The agreement is a one-year revolving credit facility for US$ 1.5 billion with a
further one-year term-out feature. The term-out gives ABB the option to retain
up to US$ 750 million in borrowings under the facility, repayable in 2004.
The arranging banks and bookrunners are Barclays Capital, Citigroup, Credit
Suisse First Boston and HypoVereinsbank.
The new credit facility replaces an existing facility, which expired on December
17, 2002.
ABB (www.abb.com) is a leader in power and automation technologies that enable
utility and industry customers to improve performance while lowering
environmental impact. The ABB Group of companies operates in more than 100
countries and employs about 146,000 people.
The company will host a conference call for analysts and investors at 10:00
Central European Time. Teleconference callers should dial +41 91 610 5600 in
Europe and +1 412 858 4600 in the U.S. and
Canada. The facility is also available to the media on a "listen only" basis.
The audio playback of the conference call will be available for 72 hours after
the call commencing 2 hours after the conference call on +41 91 612 4330
(Europe) and +1 412 858 1440 in the U.S. and Canada. The PIN number is 337#.
For more information please contact:
Media Relations:
ABB Corporate Communications, Zurich Investor Relations:
Thomas Schmidt Switzerland: Tel. +41 43 317 3804
Tel: +41 43 317 6492 Sweden: Tel. +46 21 325 719
Fax: +41 43 317 7958 USA: Tel. + 1 203 750 7743
media.relations@ch.abb.com investor.relations@ch.abb.com
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 authorized.
ABB LTD
Date: December 18, 2002 By: /s/ BEAT HESS
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Name: Beat Hess
Title: Group Senior Officer
By: /s/ HANS ENHORNING
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Name: Hans Enhorning
Title: Group Vice President