Business and Industry

Kodak Gets Funding to Leave Bankruptcy

Will convert into a commercial-printing company


Eastman Kodak Co., the bankrupt photography pioneer, said it arranged $793 million in financing from some creditors to exit bankruptcy as a commercial-printing company by mid-2013.

Centerbridge Capital Partners, GSO Capital Partners, UBS AG (UBSN) and JPMorgan Chase & Co. (JPM) are among second-lien creditors participating in the financing, which will be used during bankruptcy and can partly be converted to fund the emerging company, Rochester, New York-based Kodak said today in a statement. The agreement requires court approval.