Nov 12 Eastman Kodak Co has reached a
financing deal with bondholders that could take the one-time
photography giant out of bankruptcy, The Wall Street Journal
The deal, which needs bankruptcy court approval, would
provide Kodak with $793 million in loans on the condition that
the company receive at least $500 million for a patent portfolio
it has been trying to sell for more than a year, the newspaper
reported on Monday.
Kodak filed for Chapter 11 protection in January in hopes of
selling its intellectual property portfolio, but bids have been
lower than hoped. It remains in talks for a patent sale with
potential buyers including Apple Inc and Google Inc
The bondholders that would provide financing include
Centerbridge Partners and a JPMorgan Chase & Co unit,
the Journal reported.
A spokeswoman for Kodak had no immediate comment on the