KODAK ARRANGES FINANCING

Eastman Kodak Co. said Thursday it’s completed the syndication of its previously announced $695 million exit and post-emergence term-loan credit facilities.
That, plus 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.
Kodak expects the new loans to result in interest savings of at least $25 million within the first 12 months.

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