Kodak reaches improved financing deal worth $830M - 13 WTHR Indianapolis

Kodak reaches improved financing deal worth $830M

Posted: Updated:
NEW YORK -

Struggling photo pioneer Eastman Kodak Co. will get loans worth $830 million in a new financing package that replaces a $793 million deal.

The new package also has a longer maturity and lower fees. The offer comes from a committee of 10 institutional investors who all hold senior secured notes in Kodak.

The Rochester, N.Y., company says the funds will allow it to complete its reorganization and emerge from bankruptcy protection in the first half of next year.

The financing is subject to bankruptcy court approval and requires the company to complete the sale of its digital imaging patent portfolio for at least $500 million.

Kodak filed for Chapter 11 bankruptcy protection in January after struggling to adapt to the world of digital photography.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

 

Powered by WorldNow
Links to the FCC website to view WTHR and/or WALV’s on-line public inspection files:
WTHR: https://stations.fcc.gov/station-profile/WTHR   ||   WALV: https://stations.fcc.gov/station-profile/WALV
Individuals with disabilities may contact Jill Pursell at publicfile@wthr.com, or 317.655.5602, for assistance with access to the public inspection files.
Powered by WorldNowAll content © Copyright 2000 - 2013 WorldNow and WTHR. For more information on this site, please read our Privacy Policy and Terms of Service.