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Eastman Kodak Announces $200 Million Investment by Southeastern Asset Management

Proceeds to be used to pay down existing debt.

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By: DAVID SAVASTANO

Editor, Ink World Magazine

Eastman Kodak Company entered into an agreement to sell $200 million of newly created 5.50% Series A Convertible Preferred Stock to funds managed by Southeastern Asset Management, an employee-owned, global investment management firm.   Kodak intends to use the net proceeds of the sale, together with cash on hand, to prepay in full its outstanding second lien term loans.   “This transaction improves our capital structure and enhances our financial flexibility,” said Jeff Clarke, Kodak chief e...

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