ICBC contributes $1.5 million USD to the Canadian dollar tranche of a $400 million USD syndicated loan to Kodak Canada Inc. for general corporate purposes in 2011 (Linked to Record ID#105920)

Project narrative

On April 26, 2011, financial close was reached on a deal in which a syndicate of banks — including ICBC — entered into a $400 million USD syndicated loan agreement with Eastman Kodak Company, a U.S.-based technology company headquartered in Rochester, New York, and Kodak Canada Inc., based in Ontario, Canada. This credit agreement provides revolving credit facilities with a five-year maturity, set to expire in April 2016, and a variable interest rate based on the Eurodollar Rate (LIBOR) plus an applicable margin. The use of proceeds was designated for general corporate purposes, including working capital. ICBC contributed $18.5 million USD to the US Revolving Credit tranche (Record ID#105920) and $1.5 million USD to the Canadian Revolving Credit tranche (Record ID#105921). The following lenders also participated: Bank of America, N.A. as the administrative agent and co-collateral agent, Citicorp USA, Inc. as co-collateral agent, Citibank, N.A., Wells Fargo Bank, N.A., Morgan Stanley, PNC Bank, National Association, Bank of New York Mellon, and Sumitomo Mitsui Banking Corporation. On January 20, 2012, the borrower paid back the loan in full and the credit was terminated.