Kodak decrease bankruptcy financing

Kodak hopes a new financing agreement will allow it to obtain the required financing to exit bankruptcy later this year. The original financing agreement was $700 million; however, Kodak will now only need to raise $600 milling in financing. Kodak hopes to raise the money through the sale of noncommercial imaging assets including document imaging and trademarks. If a bankruptcy plan is filed, the creditors and the Bankruptcy Court must first approve the plan before Kodak can begin its exit from Chapter 11.

For more read, “Kodak lands more flexible financing as it eyes bankruptcy exit.

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