Kodak Gets Loans to Pay Off Debt, Then Needs to Pay Loans Back


Okay, here’s some weird albiet minor news in the whole Kodak restructuring whirlwind. MarketWatch is reporting today that J.P. Morgan, Barclays and and Bank of America are partnering to give the fallen film company a loan package to pay off their creditors and get out of bankruptcy. Together, they’re pitching in $695 Million. But once again, these are term loans–which means that Kodak could go bankrupt again if they really haven’t changed their mentality. At the moment, though, their CFO is all about it. And the press release states:

“The new financing, combined with other recent significant milestones in our restructuring – including the rights offering, Amended Plan of Reorganization, and Eastman Business Park settlement – will position Kodak for a bright long-term future,” said Antonio M. Perez, Kodak’s Chairman and Chief Executive Officer.”

After the jump, we have a whole chronology of the events that we’ve covered so far.

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