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Eastman Kodak Company Announces Redemption of its 3.375% Convertible Senior Notes

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  Published in House and Home on Wednesday, September 15th 2010 at 5:35 GMT by Market Wire
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ROCHESTER, N.Y.--([ BUSINESS WIRE ])--Eastman Kodak Company (NYSE: EK) today announced that it is calling for redemption all of its outstanding 3.375% Convertible Senior Notes due 2033, CUSIP Nos. 277451BE8 and 2774618X0 (the aNotesa). As of September 15, 2010, there are $11,245,000 aggregate principal amount of Notes outstanding.

Pursuant to the terms of the Indenture dated January 1, 1988 (the aIndenturea) and the Fifth Supplemental Indenture dated October 10, 2003 (the aFifth Supplemental Indenturea) governing the Notes, the Notes will be redeemed on October 15, 2010 (the aRedemption Datea) at a redemption price (the aRedemption Pricea) of 100% of the principal amount of the Notes to be redeemed, plus accrued interest to the Redemption Date. Interest on the Notes called for redemption ceases to accrue on and after the Redemption Date.

The Bank of New York Mellon, as Trustee under the Indenture and the Fifth Supplemental Indenture, has sent a notice of redemption to the Depository Trust Company, as depositary with respect to the Notes. Notes held in book-entry form will be redeemed in accordance with the procedures of the Depository Trust Corporation.

The Fifth Supplemental Indenture also provides the holders of the Notes with a right to require Kodak to purchase their Notes on certain dates, the first of which is the same date as the Redemption Date. The redemption described above entitles the holders to receive the same price for their Notes, on the same date, as they would receive if they exercised this put right, and Kodak intends to redeem the Notes on October 15, 2010 whether or not the holders avail themselves of this put right.

The above-referenced CUSIP numbers are included solely for the convenience of the holders of the Notes. No representation is made as to their correctness. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

CAUTIONARY STATEMENT PURSUANT TO SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

Certain statements in this press release may be forward-looking in nature, or aforward-looking statementsa as defined in the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding the redemption and purchase described above. Actual results may differ from those expressed or implied in forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, among others, the risks, uncertainties, assumptions and factors specified in the filings Kodak makes with the SEC from time to time. Kodak cautions readers to carefully consider such factors. Many of these factors are beyond Kodaka™s control. In addition, any forward-looking statements represent Kodaka™s estimates only as of the date they are made, and should not be relied upon as representing Kodaka™s estimates as of any subsequent date. While Kodak may elect to update forward-looking statements at some point in the future, Kodak specifically disclaims any obligation to do so, even if its estimates change.

Any forward-looking statements in this press release should be evaluated in light of the factors and uncertainties referenced above and should not be unduly relied upon.