Eastman Kodak to repay portion of term loans, refinance remainder

By Angela McDaniels

Tacoma, Wash., April 9 – Eastman Kodak Co. will use $320 million of asset sale proceeds to repay outstanding term loans and expects to refinance the remaining outstanding term loans, according to a company news release.

The company has $420 million of first-lien term loans due Sept. 3, 2019, according to its latest 10-K filing with the Securities and Exchange Commission.

Eastman Kodak sold its flexographic packaging division to Montagu Private Equity LLP.

The $320 million of proceeds equals a $340 million gross purchase price less agreed debt, other items and $7.5 million payable at the deferred transfer of the business in China.

Kodak is a Rochester, N.Y.-based technology company focused on imaging.

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