Kodak $400 million asset-based revolver priced at Libor plus 250 bps

By Sara Rosenberg

New York, April 27 - Eastman Kodak Co.'s $400 million amended and restated five-year asset-based revolving credit facility is priced at Libor plus 250 basis points with a 50 bps unused fee, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Pricing can range from Libor plus 225 bps to 275 bps based on excess availability, and the unused fee can range from 37.5 bps to 50 bps based on facility usage.

Bank of America Merrill Lynch, Citigroup Global Markets Inc. and Wells Fargo Capital Finance LLC acted as the joint lead arrangers and bookrunners on the deal that was completed on April 26.

Proceeds were used to replace the company's existing credit facility that was set to mature on March 31, 2012 and are available for general corporate purposes.

Kodak is a Rochester, N.Y.-based imaging technology products and services provider.

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