form8-k.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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):  July 18, 2007

Tortoise Capital Resources Corporation
(Exact Name of Registrant as Specified in Its Charter)

Maryland                                                                                1-33292                                                     20-3431375
(State or Other Jurisdiction                                                                           (Commission File Number)                                                (IRS Employer
     of Incorporation)                                                                                                                                              Identification No.)

10801 Mastin Blvd., Suite 222, Overland Park, KS                                                                                                                                          66210
(Address of Principal Executive Offices)                                                                                                                                          (Zip Code)

(913) 981-1020
(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:

□  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))




 
 
Item 1.01.              Entry into a Material Definitive Agreement.
 
 
On July 18, 2007, Tortoise Capital Resources Corporation (the “Company”) entered into a First Amendment to Credit Agreement (the “Amendment”) with U.S. Bank National Association (“U.S. Bank”), as lender, agent and lead arranger, and Bank of Oklahoma, N.A. (each a “Bank” and collectively, the “Banks”), amending the Credit Agreement dated as of April 25, 2007 among the Company and the Banks (the “Credit Agreement”, and as amended by the Amendment, the “Amended Credit Agreement”).  The Amendment increases the maximum principal amount of the revolving credit facility under the Credit Agreement from $20 million to $35 million.
 
The description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment that is filed hereto as Exhibit 10.1 and incorporated herein by reference.
 
U.S. Bank serves as the Company’s custodian for its securities and other assets pursuant to a custody agreement.  U.S. Bank also serves as custodian for Tortoise Energy Infrastructure Corporation (“TYG”), Tortoise Energy Capital Corporation (“TYY”) and Tortoise North American Energy Corporation (“TYN”), and two private funds advised by the Company’s investment adviser, which are affiliates of the Company.  In addition, U.S. Bancorp Fund Services, LLC, an affiliate of U.S. Bank, provides fund accounting services to the Company pursuant to a fund accounting servicing agreement and provides fund administration services and fund accounting services to TYG and TYY, pursuant to fund administration servicing agreements and fund accounting servicing agreements, as well as fund accounting services to one of such private funds pursuant to a fund accounting servicing agreement.  In addition, each of TYG, TYY and TYN have entered into interest rate swap contracts with U.S. Bank to protect itself from increasing interest expense on its leverage resulting from increasing short-term interest rates.
 
 
Item 2.03.
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
 
The information included under Item 1.01 above is incorporated into this Item 2.03 by reference.
 
 
Item 9.01.               Financial Statements and Exhibits.
 
(d)                 Exhibits
 
10.1       First Amendment to Credit Agreement dated as of July 18, 2007 by and among Tortoise Capital Resources Corporation, U.S. Bank National Association and Bank of Oklahoma, N.A.
 
 
 
 

 
 

 



 




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.

                                        TORTOISE CAPITAL RESOURCES CORPORATION



Dated:  July 20, 2007                                                                                      By:  /s/ Terry Matlack
                                        Terry C. Matlack
                                        Chief Financial Officer






Exhibit Index


Exhibit No.              Description
 
10.1         First Amendment to Credit Agreement dated as of July 18, 2007 by and among Tortoise Capital Resources Corporation, U.S. Bank National Association and Bank of Oklahoma, N.A.