The sale of the $250m senior secured notes, which will bear interest at a rate of 10.625% a year, is expected to complete on 15 March, subject to customary closing conditions.
Kodak said it intends to use $200m of the net proceeds from the offering for "general corporate purposes" and the balance to repay $50m of its 7.25% senior notes due 2013.
The 2019 notes will be guaranteed by a secondary-priority lien on substantially all US assets of Kodak and its existing and future wholly-owned domestic subsidiaries, subject to certain exceptions.
Kodak's $250m private placement, announced yesterday, came one day after it announced its intention to offer $200m of senior secured notes to qualified institutional buyers.
