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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, DC&nbsp;20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;<BR></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT PURSUANT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TO SECTION 13 OR 15(d) OF THE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of report (Date of earliest event
reported): August 3, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOSTER WHEELER AG</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
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    <TD STYLE="width: 33%; border-top: black 1pt solid; border-bottom: black 1.5pt solid; border-left: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Switzerland</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or Other Jurisdiction</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">of Incorporation)</P></TD>
    <TD STYLE="width: 33%; border-top: black 1pt solid; border-bottom: black 1.5pt solid; border-left: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>001-31305</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Commission</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">File Number)</P></TD>
    <TD STYLE="width: 33%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1.5pt solid; border-left: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>98-0607469</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(IRS Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Identification No.)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 85%; border-top: black 1pt solid; border-bottom: black 1.5pt solid; border-left: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>80 Rue de Lausanne, CH-1202, Geneva,
        Switzerland</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of Principal Executive Offices)</P></TD>
    <TD STYLE="width: 15%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1.5pt solid; border-left: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1202</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Zip Code)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1.5pt solid; border-left: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&rsquo;s telephone number, including
        area code:&nbsp;&nbsp;&nbsp;&nbsp;+<B>41 22 741 8000</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1.5pt solid; border-left: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Not applicable</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former Name or Former Address, if Changed
        Since Last Report.)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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 (<I>see</I> General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">o</FONT>&nbsp;&nbsp;Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">o</FONT>&nbsp;&nbsp;Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">o</FONT>&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">o</FONT>&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01 Entry into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">On August&nbsp;3,
2012, Foster Wheeler LLC, a Delaware limited liability company (&ldquo;<B><I>Foster Wheeler</I></B>&rdquo;) and an indirect subsidiary
of Foster Wheeler AG, a company existing under the laws of Switzerland (the &ldquo;<B><I>Company</I></B>&rdquo;), entered into
a Credit Agreement (the &ldquo;<B><I>Credit Agreement</I></B>&rdquo;) among Foster Wheeler, Foster Wheeler Inc., a Delaware corporation,
Foster Wheeler USA Corporation, a Delaware corporation, Foster Wheeler North America Corp., a Delaware corporation, Foster Wheeler
Energy Corporation, a Delaware corporation, and Foster Wheeler International Corporation, a Delaware corporation (collectively,
with Foster Wheeler, the &ldquo;<B><I>Borrowers</I></B>&rdquo;), the Company, Foster Wheeler Ltd., a company existing under the
laws of Bermuda (&ldquo;<B><I>FWL</I></B>&rdquo;), Foster Wheeler Holdings Ltd., a company existing under the laws of Bermuda (&ldquo;<B><I>Holdco</I></B>&rdquo;),
certain other subsidiaries of the Company, the lenders party thereto and BNP Paribas, as administrative agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Credit Agreement
provides for a $750.0 million unsecured revolving line of credit (the &ldquo;<B><I>Credit Facility</I></B>&rdquo;) available to
any or all of the Borrowers for (i) the issuance of letters of credit for the account of Foster Wheeler or for the account of any
of its direct or indirect subsidiaries and (ii) revolving credit loans in an amount not to exceed $250.0 million. Such Credit Facility
is intended to replace Foster Wheeler's existing senior revolving credit facility with BNP Paribas, as administrative agent, as
further described in Item 1.02 below. The Credit Facility is scheduled to terminate on August 3, 2017 (the &ldquo;<B><I>Commitment
Termination Date</I></B>&rdquo;). During the term of the Credit Agreement, Foster Wheeler may request, subject to certain requirements,
up to two one-year extensions of the Commitment Termination Date. The Credit Agreement also contains an increase option permitting
Foster Wheeler, subject to certain requirements, to arrange with existing lenders and/or new lenders to provide up to an aggregate
of $300.0 million in additional commitments under the Credit Facility. Proceeds of loans made under the Credit Agreement may be
used for any lawful purpose of the Borrowers and their subsidiaries. Foster Wheeler may prepay the loans under the Credit Agreement
in whole or in part at any time without premium or penalty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The loans (other than
incremental loans) bear interest, at Foster Wheeler&rsquo;s option, at an alternate base rate or adjusted LIBO rate, in each case
as determined in accordance with the Credit Agreement, plus a spread of 0.250% to 1.250% or 1.250% to 2.250%, respectively, with
such spreads determined based on Foster Wheeler&rsquo;s or the Company&rsquo;s, as applicable, corporate family rating, corporate
credit rating (or any substantially similar successor rating, however styled) or its senior unsecured debt rating, as applicable.
Principal, together with all accrued and unpaid interest, is due and payable on the Commitment Termination Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">In addition to other
customary fees, Foster Wheeler is also obligated to pay (i) a quarterly commitment fee, payable in arrears, based on the available
commitments at a rate per annum of 0.175% to 0.500% and (ii) a quarterly letter of credit fee, payable in arrears, for performance
and non-performance letters of credit at a rate per annum of 0.625% to 1.125% and 1.250% to 2.250%, respectively, excluding fronting
fees, based on the amounts outstanding relating to such performance and non-performance letters of credit, in each case, with such
rate determined based on Foster Wheeler&rsquo;s rating as described above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Credit Agreement
contains customary affirmative and negative covenants. Affirmative covenants include, among other things, delivery of financial
statements, compliance certificates and notices; maintenance of properties; preservation of existence; compliance with applicable
laws and regulations; and certain obligations respecting subsidiaries. Negative covenants include, among other things, limitations
on liens; limitations on indebtedness; limitations on mergers, consolidations and sales of assets; changes in the nature of the
business; and limitations on affiliate transactions. The Credit Agreement also requires the Company to maintain a total leverage
ratio of no more than 3.00 to 1.00 (subject to an increase under certain circumstances as permitted by the Credit Agreement), and
an interest coverage ratio of less than or equal to 3.00 to 1.00 as at the last day of any fiscal quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Credit Agreement
also contains customary events of default including, among other things, payment defaults, breaches of covenants or representations
and warranties, cross-defaults with certain other indebtedness, bankruptcy and insolvency events and change in control, subject
to grace periods in certain instances. Upon an event of default, the lenders may declare all or a portion of the outstanding obligations
payable by any of the Borrowers to be immediately due and payable and exercise other rights and remedies provided for under the
Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The foregoing description
of the Credit Agreement is qualified in its entirety by reference to the Credit Agreement, a copy of which will be filed by the
Company in the future in accordance with the Securities Exchange Act of 1934, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The information set
forth under Item&nbsp;1.02 below is incorporated herein by reference into this Item&nbsp;1.01.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.02 Termination of a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 3, 2012,
Foster Wheeler terminated the Amended and Restated Credit Agreement dated as of July 30, 2010 (the &ldquo;<B><I>Existing Credit
Agreement</I></B>&rdquo;), among the Borrowers, the Company, FWL, Holdco, certain other subsidiaries of the Company, the lenders
party thereto and BNP Paribas, as administrative agent. The Existing Credit Agreement was previously filed as Exhibit 10.9 to the
Company's Form 10-Q, filed with the Securities and Exchange Commission on August 5, 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Existing Credit
Agreement provided for a $450.0 million unsecured revolving line of credit available to any or all of the Borrowers for (i) the
issuance of letters of credit for the account of Foster Wheeler or for the account of any of its direct or indirect subsidiaries
and (ii) revolving credit loans in an amount not to exceed $100.0 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Upon effectiveness
of the Credit Agreement in accordance with its terms, the Existing Credit Agreement, all agreements related thereto and all obligations
and commitments thereunder were terminated. The Credit Agreement, with BNP Paribas as administrative agent, is intended to replace
the Existing Credit Agreement, as further described in Item 1.01 above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 2.03 Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a Registrant.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The information set forth under Item&nbsp;1.01
above is incorporated herein by reference into this Item&nbsp;2.03.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold">FOSTER WHEELER AG</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 35%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 12%; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: white 3pt solid; vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>DATE: </B>August 3, 2012</P></TD>
    <TD STYLE="border-bottom: white 3pt solid; vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By:</P></TD>
    <TD NOWRAP STYLE="border-bottom: black 1.5pt solid; vertical-align: bottom; font-size: 10pt; text-align: left">/s/ Michelle K. Davies</TD>
    <TD STYLE="border-bottom: white 3pt solid; vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font-size: 10pt">Michelle K. Davies</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Corporate Secretary</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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{"company-data": {"conformed-name": "FOSTER WHEELER AG", "cik": "0001130385", "assigned-sic": "1600", "irs-number": "223802649", "state-of-incorporation": "V8", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-31305", "film-number": "121006218"}, "business-address": {"street1": "80 RUE DE LAUSANNE", "city": "GENEVA", "state": "V8", "zip": "CH 1202", "phone": "9087304000"}, "mail-address": {"street1": "PERRYVILLE CORPORATE PARK", "street2": "SERVICE ROAD EAST 173", "city": "CLINTON", "state": "NJ", "zip": "08809"}, "former-company": {"former-conformed-name": "FOSTER WHEELER LTD", "date-changed": "20001221"}}
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): August 3, 2012
FOSTER WHEELER AG
(Exact Name of Registrant as Specified in
Its Charter)
Switzerland
(State or Other Jurisdiction
of Incorporation)
001-31305
(Commission
File Number)
98-0607469
(IRS Employer
Identification No.)
80 Rue de Lausanne, CH-1202, Geneva,
        Switzerland
(Address of Principal Executive Offices)
1202
(Zip Code)
Registrant's telephone number, including
        area code:    +
41 22 741 8000
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 (
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))
Item 1.01 Entry into a Material Definitive Agreement.
On August 3,
2012, Foster Wheeler LLC, a Delaware limited liability company ("
Foster Wheeler
") and an indirect subsidiary
of Foster Wheeler AG, a company existing under the laws of Switzerland (the "
Company
"), entered into
a Credit Agreement (the "
Credit Agreement
") among Foster Wheeler, Foster Wheeler Inc., a Delaware corporation,
Foster Wheeler USA Corporation, a Delaware corporation, Foster Wheeler North America Corp., a Delaware corporation, Foster Wheeler
Energy Corporation, a Delaware corporation, and Foster Wheeler International Corporation, a Delaware corporation (collectively,
with Foster Wheeler, the "
Borrowers
"), the Company, Foster Wheeler Ltd., a company existing under the
laws of Bermuda ("
FWL
"), Foster Wheeler Holdings Ltd., a company existing under the laws of Bermuda ("
Holdco
"),
certain other subsidiaries of the Company, the lenders party thereto and BNP Paribas, as administrative agent.
The Credit Agreement
provides for a $750.0 million unsecured revolving line of credit (the "
Credit Facility
") available to
any or all of the Borrowers for (i) the issuance of letters of credit for the account of Foster Wheeler or for the account of any
of its direct or indirect subsidiaries and (ii) revolving credit loans in an amount not to exceed $250.0 million. Such Credit Facility
is intended to replace Foster Wheeler's existing senior revolving credit facility with BNP Paribas, as administrative agent, as
further described in Item 1.02 below. The Credit Facility is scheduled to terminate on August 3, 2017 (the "
Commitment
Termination Date
"). During the term of the Credit Agreement, Foster Wheeler may request, subject to certain requirements,
up to two one-year extensions of the Commitment Termination Date. The Credit Agreement also contains an increase option permitting
Foster Wheeler, subject to certain requirements, to arrange with existing lenders and/or new lenders to provide up to an aggregate
of $300.0 million in additional commitments under the Credit Facility. Proceeds of loans made under the Credit Agreement may be
used for any lawful purpose of the Borrowers and their subsidiaries. Foster Wheeler may prepay the loans under the Credit Agreement
in whole or in part at any time without premium or penalty.
The loans (other than
incremental loans) bear interest, at Foster Wheeler's option, at an alternate base rate or adjusted LIBO rate, in each case
as determined in accordance with the Credit Agreement, plus a spread of 0.250% to 1.250% or 1.250% to 2.250%, respectively, with
such spreads determined based on Foster Wheeler's or the Company's, as applicable, corporate family rating, corporate
credit rating (or any substantially similar successor rating, however styled) or its senior unsecured debt rating, as applicable.
Principal, together with all accrued and unpaid interest, is due and payable on the Commitment Termination Date.
In addition to other
customary fees, Foster Wheeler is also obligated to pay (i) a quarterly commitment fee, payable in arrears, based on the available
commitments at a rate per annum of 0.175% to 0.500% and (ii) a quarterly letter of credit fee, payable in arrears, for performance
and non-performance letters of credit at a rate per annum of 0.625% to 1.125% and 1.250% to 2.250%, respectively, excluding fronting
fees, based on the amounts outstanding relating to such performance and non-performance letters of credit, in each case, with such
rate determined based on Foster Wheeler's rating as described above.
The Credit Agreement
contains customary affirmative and negative covenants. Affirmative covenants include, among other things, delivery of financial
statements, compliance certificates and notices; maintenance of properties; preservation of existence; compliance with applicable
laws and regulations; and certain obligations respecting subsidiaries. Negative covenants include, among other things, limitations
on liens; limitations on indebtedness; limitations on mergers, consolidations and sales of assets; changes in the nature of the
business; and limitations on affiliate transactions. The Credit Agreement also requires the Company to maintain a total leverage
ratio of no more than 3.00 to 1.00 (subject to an increase under certain circumstances as permitted by the Credit Agreement), and
an interest coverage ratio of less than or equal to 3.00 to 1.00 as at the last day of any fiscal quarter.
The Credit Agreement
also contains customary events of default including, among other things, payment defaults, breaches of covenants or representations
and warranties, cross-defaults with certain other indebtedness, bankruptcy and insolvency events and change in control, subject
to grace periods in certain instances. Upon an event of default, the lenders may declare all or a portion of the outstanding obligations
payable by any of the Borrowers to be immediately due and payable and exercise other rights and remedies provided for under the
Credit Agreement.
The foregoing description
of the Credit Agreement is qualified in its entirety by reference to the Credit Agreement, a copy of which will be filed by the
Company in the future in accordance with the Securities Exchange Act of 1934, as amended.
The information set
forth under Item 1.02 below is incorporated herein by reference into this Item 1.01.
Item 1.02 Termination of a Material Definitive Agreement.
On August 3, 2012,
Foster Wheeler terminated the Amended and Restated Credit Agreement dated as of July 30, 2010 (the "
Existing Credit
Agreement
"), among the Borrowers, the Company, FWL, Holdco, certain other subsidiaries of the Company, the lenders
party thereto and BNP Paribas, as administrative agent. The Existing Credit Agreement was previously filed as Exhibit 10.9 to the
Company's Form 10-Q, filed with the Securities and Exchange Commission on August 5, 2010.
The Existing Credit
Agreement provided for a $450.0 million unsecured revolving line of credit available to any or all of the Borrowers for (i) the
issuance of letters of credit for the account of Foster Wheeler or for the account of any of its direct or indirect subsidiaries
and (ii) revolving credit loans in an amount not to exceed $100.0 million.
Upon effectiveness
of the Credit Agreement in accordance with its terms, the Existing Credit Agreement, all agreements related thereto and all obligations
and commitments thereunder were terminated. The Credit Agreement, with BNP Paribas as administrative agent, is intended to replace
the Existing Credit Agreement, as further described in Item 1.01 above.
Item 2.03 Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01
above is incorporated herein by reference into this Item 2.03.
SIGNATURES
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.
FOSTER WHEELER AG
DATE:
August 3, 2012
By:
/s/ Michelle K. Davies
Michelle K. Davies
Corporate Secretary