Eastman Kodak greenshoe exercised, increasing convertibles to $575 million

New York, Oct. 10 - Eastman Kodak Co. said it completed its offering of $575 million of convertible senior notes due 2033, reflecting exercise in full of the $75 million greenshoe.

The company originally sold $500 million of the securities after the market closed on Oct. 7 to yield 3.375% with a 47% initial conversion premium.

Joint bookrunners for the Rule 144A offering were Citigroup and Lehman Brothers.

Rochester, N.Y.-based Kodak said proceeds from the convertible and a concurrent $500 million note sale would be used to repay a portion of its commercial paper borrowings and partially fund its previously announced acquisition of PracticeWorks Inc.

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