Bloomberg News

Eastman Kodak Said to Decrease Discount on $700 Million DIP Loan

January 26, 2012

Jan. 25 (Bloomberg) -- Eastman Kodak Co., the photography pioneer that filed for bankruptcy court protection, reduced the discount at which it’s offering to sell a $700 million debtor- in-possession term loan, according to a person with knowledge of the transaction.

The debt will be sold at 98 cents on the dollar compared with an original offer of 97 cents to 97.5 cents, said the person, who declined to be identified because the terms are private. The discount reduces proceeds for the company and boosts the yield to investors.

To contact the reporter on this story: Michael Amato in New York at

To contact the editor responsible for this story: Chapin Wright at

We Almost Lost the Nasdaq

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

blog comments powered by Disqus