Kodak (EKDKQ), Creditors Reach New $793M Loan Deal
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Go back to Kodak (EKDKQ), Creditors Reach New $793M Loan Deal
November 12, 2012 5:30 PM EST
Eastman Kodak Company (OTCBB: EKDKQ) has entered into a commitment letter to secure $793 million in Junior Debtor-in-Possession Financing with Centerbridge Partners, L.P., GSO Capital Partners LP, UBS and JPMorgan Chase & Co. to provide the company with additional case financing and establishes the ability to convert a substantial part of the facility into exit financing, enhancing its liquidity and securing a major component of the companys exit capital structure. This financing is a key element in the steps to enable the company to successfully execute its remaining reorganization objectives and emerge from Chapter 11... More
November 12, 2012 10:17 AM EST
Eastman Kodak Company (OTCBB: EKDKQ) creditors say they have lost faith in management and the company hasn't made progress in reorganization. The creditors have opposed extension for filing a bankruptcy plan, according to Bloomberg headlines.
Shares are down 1 percent Monday.... More
