Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Eastman Kodak Co. > News item |
Kodak to price $200 million eight-year secured notes on Thursday
By Paul A. Harris
Portland, Ore., March 9 - Eastman Kodak Co. plans to price a $200 million offering of eight-year senior secured second-lien notes (existing ratings B1/CCC) on Thursday, according to an informed source.
Citigroup Global Markets Inc. is the left bookrunner for the Rule 144A for life offering. Bank of America Merrill Lynch and Morgan Stanley & Co. Inc. are the joint bookrunners.
The notes come with a make-whole call at Treasuries plus 50 basis points for the first four years and then become callable at a premium. They feature a three-year 35% equity clawback and a 101% poison put.
The notes are secured by a second-priority lien on substantially all domestic assets, including, but not limited to, accounts receivable, inventory, equipment, investment property, intellectual property, intercompany debt, general intangible assets, cash, and deposit and security accounts, subject to certain exceptions.
The Rochester, N.Y.-based provider of imaging technology products and services will use the proceeds for general corporate purposes, including the repurchase of debt.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.