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): March 20, 2008
ITT CORPORATION
(Exact name of registrant as specified in its charter)
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| Indiana
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1-5672
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13-5158950 |
| (State or other jurisdiction
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(Commission
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(I.R.S. Employer |
| of incorporation)
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File Number)
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Identification No.) |
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| 4 West Red Oak Lane |
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| White Plains, New York
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10604 |
| (Address of principal
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(Zip Code) |
| executive offices) |
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Registrant’s telephone number, including area code: (914) 641-2000
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):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Not Applicable
(Former name or former address, if changed since last report)
Item 8.01 Other Events
On March 20, 2008, ITT Corporation (the “Company”), as borrower, entered into a
364-Day Competitive Advance and Revolving Credit Facility (the “Agreement”), a senior unsecured
revolving credit facility in an aggregate principal amount of up to $1,000,000,000, with a
syndicate of lenders and JPMorgan Chase Bank, N.A., as the administrative agent. Two borrowing
options are available under the Agreement: (i) a competitive advance option and (ii) a revolving
credit option. The interest rates for the competitive advance option will be obtained from bids in
accordance with competitive auction procedures. The interest rates under the revolving credit
option will be based either on LIBOR plus spreads, which reflect the Company’s debt ratings, or on
the administrative agent’s Alternative Base Rate. Borrowings under the Agreement are available upon
customary terms and conditions for facilities of this type. The proceeds of the borrowings will be
used for working capital and other general corporate purposes, including commercial paper backup.