Letter to Adam Boehler, CEO of the U.S. International Development Finance Corporation - Waters, Engel, Clyburn, Maloney, Green Launch Investigation into $765 Million Deal Between Trump Administration and Kodak

Letter

Dear Mr. Boehler:

Pursuant to its legislative and oversight authority under House Rule X, 116th Congress, the U.S. House Committee on Financial Services, in coordination with the Committee on Foreign Affairs, Committee on Oversight and Reform, and Subcommittee on the Coronavirus Crisis, is investigating matters related to the U.S. International Development Finance Corporation's ("DFC") program for financing private sector entities in support of the domestic COVID-19 response under the Defense Production Act of 1950 ("DPA"). On July 28, 2020, you signed a letter of interest to provide $765 million in financing to Eastman Kodak Company ("Kodak") under DFC's DPA loan program. According to DFC, the loan would be DFC's first use of DPA authority and would support Kodak, an organization that was on the brink of failure in 2012[1] and was unsuccessful in its previous foray into pharmaceutical manufacturing,[2] in its efforts to develop the capacity to produce up to 25 percent of domestic pharmaceutical components.[3]

In furtherance of this investigation, we request that you produce the following records as soon as possible, but no later than August 31, 2020:
1. All Records, including Communications related to DFC's consideration of Kodak, and any component or affiliate thereof, for financing under DFC's DPA loan program, including but not limited to, all Communications between DFC and Kodak from May 1, 2020 through August 4, 2020; and
2. All Communications between DFC and any private sector entity regarding financing under DFC's DPA loan program from May 1, 2020 through August 4, 2020.

Additionally, please provide your written acknowledgement of this letter within five days of its receipt. We also ask that you please make your staff available to meet and confer with committee staff within five days of receipt of this letter to discuss the aforementioned requests and the enclosed definitions
and instructions.

Please direct any questions regarding this request to David Abramowitz, Kevin Burris, or Bruce Johnson of Committee on Financial Services staff.