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November 28, 2012
18:17 EDTEKDKQEastman Kodak accepts new financing totaling $830M
Eastman Kodak Company announced that it has received and accepted an offer from the steering committee of the second lien noteholders committee for interim and exit financing totaling $830M in loans. The commitment replaces the $793M commitment announced by the company on November 12. The financing includes new money term loans of $455M, as well as term loans of up to $375M issued to holders of senior secured notes participating in the new money loans in a dollar-for-dollar exchange for amounts outstanding under the company's pre-petition second lien notes. The financing is predicated on certain conditions, including the successful completion of the sale of Kodak's digital imaging patent portfolio for no less than $500M.
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