This Week
  • FBI agents have launched a criminal probe involving Bristol Instruments Inc.

  • Dryden Theatre's Malin Kanis hopes to get more young adults in the theater's seats.

  • Doctors and researchers are tapping powerful computers to improve outcomes.

  • Best Lawyers in Rochester guide can help you obtain legal representation.

  • The Business Person of the Year finalists for 2015 are profiled.

  • Ex-Kodak manager Janice Gouldthorpe leads the Genesee Center for the Arts & Education.

Kodak completes syndication of $695 million in loans

Rochester Business Journal
August 1, 2013

Eastman Kodak Co. said Thursday it has completed the syndication of its previously announced $695 million exit and post-emergence term-loan credit facilities.

The facilities, along with the proceeds from the previously announced rights offering, cash on hand and other financing transactions, will enable Kodak at emergence from Chapter 11 bankruptcy to fund its plan of reorganization, and repay its secured creditors under its existing debtor-in-possession loan facilities and second lien notes, the company said.

The credit facilities are comprised of a $420 million, six-year first lien term loan, and a $275 million, seven-year second lien term loan.

The new loans carry more favorable pricing and other terms than the existing rollover exit financing commitment, the company said. Kodak expects the new loans to result in interest savings of at least $25 million within the first 12 months.

The credit facilities are expected to close upon Kodak’s emergence from Chapter 11.

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email

What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment


Not registered? Sign up now!

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google