Kodak 2009 Annual Report Download - page 75

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Long-Term Debt, Including Lines of Credit
Long-term debt and related maturities and interest rates were as follows:
As of December 31,
(in millions) 2009 2008
Weighted-
Average
Weighted-
Average
Effective
Interest Amount
Effective
Interest Amount
Country Type Maturity Rate Outstanding Rate Outstanding
U.S. Convertible 2010 3.38% $ 12 3.38% $ 575
U.S. Term note 2010-2013 6.16% 35 6.16% 43
Germany Term note 2010-2013 6.16% 141 6.16% 171
U.S. Term note 2013 7.25% 500 7.25% 500
U.S. Secured term note 2017 19.36% 195 - -
U.S. Convertible 2017 12.75% 295 - -
U.S. Term note 2018 9.95% 3 9.95% 3
U.S. Term note 2021 9.20% 10 9.20% 10
1,191 1,302
Current portion of long-term debt (62) (50)
Long-term debt, net of
current portion $ 1,129 $ 1,252
Annual maturities (in millions) of long-term debt outstanding at December 31, 2009 were as follows:
Carrying Principal
Value Amount
2010 $ 62 $ 62
2011 45 50
2012 43 50
2013 538 550
2014 - -
2015 and thereafter 503 713
Total $ 1,191 $ 1,425
In September 2009, the Company issued $300 million of Senior Secured Notes due 2017 and 40 million detachable warrants, as
well as $400 million of 2017 Convertible Senior Notes. Proceeds from these issuances were initially reflected in the accompanying
Consolidated Statement of Financial Position as follows and as further described below:
Additional
Stated Discount/ Paid-In Long-Term
(in millions) Principal Fee to Holder Capital Debt
Senior Secured Notes due 2017 and
40 million detachable warrants $ 300 $ (27) $ (80) $ 193
2017 Convertible Senior Notes $ 400 $ - $ (107) $ 293