We advised an ad hoc group of lenders on the transaction

Davis Polk advised an ad hoc group of lenders in connection with Carestream Health, Inc.’s debt refinancing transaction. As a part of the transaction, among other things, Carestream Health reduced its outstanding debt by approximately 60% and extended the maturity date of outstanding debt from 2027 to 2031.

Carestream Health is a worldwide provider of medical imaging systems, X-ray imaging systems for non-destructive testing and precision contract coating services for a wide range of industrial, medical, electronic and other applications.

The Davis Polk restructuring team included partner Damian S. Schaible, counsel Michael Pera and associate Cameron Carpenter. The finance team included partner Jon Finelli, counsel Brian Hecht and associate Christopher Martin. The tax team included partner Patrick E. Sigmon and associate William Liang. All members of the Davis Polk team are based in the New York office.

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