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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): July 8, 2005
Eastman Kodak Company
(Exact name of registrant as specified in its charter)
New Jersey 1-87 16-0417150
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
343 State Street,
Rochester, New York 14650
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code (585) 724-4000
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Securities
Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c)under the
Exchange Act (17 CFR 240.13e-4(c))
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ITEM 2.03 Creation of a Direct Financial Obligation or an Obligation
under an Off-Balance Sheet Arrangement of a Registrant.
On July 8, 2005, Eastman Kodak Company ("Kodak") refinanced indebtedness
outstanding under its 364-day revolving credit facility, which expired
on its stated termination date of July 8, 2005. The $1 billion
indebtedness, originally incurred to finance Kodak's acquisition of Creo
Inc., was refinanced under Kodak's existing five-year revolving credit
facility as a eurodollar loan with a three-month interest period at a
rate of 4.31%. Kodak anticipates that the indebtedness will be
refinanced with longer-term debt at a later date.
The $1.225 million five-year credit facility will expire on July 13,
2006, and all amounts borrowed under the facility are payable on that
date. Kodak also has issued approximately $135 million in letters of
credit under the facility. Interest on amounts borrowed is payable from
time to time, generally at the end of the applicable interest period.
Kodak's obligations under the credit agreement would be accelerated upon
certain bankruptcy or insolvency events, and may be accelerated upon the
occurrence of other events of default under the credit agreement, such
as non-payment of principal, interest or fees when due, or failure to
comply with affirmative and negative covenants.
The five-year credit agreement, as amended, is an exhibit to Kodak's
2004 Form 10-K, incorporated by reference to the Eastman Kodak Company
Current Report on Form 8-K dated October 6, 2003, as filed on October 7,
2003, Exhibit 4E.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
EASTMAN KODAK COMPANY
By: /s/ Richard G. Brown, Jr.
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Richard G. Brown, Jr.
Controller
Date: July 14, 2005