KKR to Buy up to $400 Million in Senior Secured Notes Due 2017, and Warrants to Purchase up to 53 Million Shares; Proceeds of Capital Infusions to Finance Debt Repurchase and General Corporate Purposes; Kodak Updates Outlook
American Greetings Corporation (NYSE: AM) today announced a quarterly cash dividend of 12 cents per share to be paid on October 15, 2009 to shareholders of record at the close of business on October 5, 2009.
Eastman Kodak Company (NYSE: EK) today announced its intention to offer, subject to market and other conditions, $300 million aggregate principal amount of convertible senior notes due 2017 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act, as amended. Kodak expects to grant the initial purchasers an option to purchase up to an additional $45 million aggregate principal amount of the notes to cover over-allotments, which option would be exercisable on or prior to September 22, 2009.
The Federal Competition Commission (COMCO) approved the merger between Edipresses Swiss activities and Tamedia without conditions. This decision proves the highly competitive nature of the Swiss media landscape. In the past few months, Edipresse and Tamedia submitted a wide variety of market information and internal performance figures to the Competition Commission for review.
– 14 young offset printers go head-to-head at WorldSkills 2009 in Calgary ; – Heidelberg provides presses for the competition
FedEx Express Announces 2010 Rate Increase
Appleton Papers Inc. announced today that it has extended the expiration date for its private offers to exchange its outstanding 8.125% Senior Notes due 2011 and 9.75% Senior Subordinated Notes due 2014 (collectively, the “old notes”) for new 11.25% Second Lien Notes due 2015 (the “new notes”) until 12:00 midnight, New York City time, on September 25, 2009 (unless further extended). The offers were previously scheduled to expire at 12:00 midnight, New York City time, on September 16, 2009.
