secwatch.observer — SEC 8-K summary
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Issuer:     EASTMAN KODAK CO (KODK)
CIK:        0000031235
Form:       8-K
Filed at:   2023-07-07T23:59:59+00:00
Accession:  0001437749-23-019548
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eastman Kodak secures $450M term loan facility at 12.5% interest; extends maturity to 2028
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- New $450M term loan from Kennedy Lewis affiliates at 7.5% cash + 5.0% PIK (12.5% total).
- Proceeds repay existing $275M term loan, $25M convertible notes, and terminate ABL facility.
- Maturity extended to Aug 15, 2028 (or 91 days prior to preferred stock redemption).
- L/C facility increased by $50M to $100M total, then reducing to $50M after Aug 30, 2023; 104% cash collateral required.
- KLIM retains board nomination right as long as it holds ≥$200M of original principal; Darren Richman remains on board.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/31235/000143774923019548/0001437749-23-019548-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/31235/000143774923019548/ekc20230705_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-019548

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