Kodak Nets $830M Exit Financing Offer

Law360, New York (November 28, 2012, 10:58 PM EST) -- Eastman Kodak Co. has received a commitment of $830 million in exit financing from a group of 10 secured noteholders if it sells its digital imaging patent portfolio for at least $500 million, the bankrupt camera giant announced Wednesday.

The financing offer, made by the steering committee of the second-lien noteholders committee, replaces another offer announced earlier this month for $793 million in junior debtor-in-possession financing from a group of lenders that included Centerbridge Partners LP and JPMorgan Chase & Co.

The new financing includes $455...
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