Kodak Reaches Financing Deal With Bondholders
Eastman Kodak Co. reached a deal with bondholders for $793 million in loans that could take the onetime photography icon out of bankruptcy proceedings on the condition it sell a trove of patents for a certain amount, said people familiar with the discussions.
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#1 Nov 12, 2012
Here we go again. The report says that Kodak must sell 1,100 digital patents for at least $500-million. Now the 2 billion dollar patents are worth 500 million? If they could get 500 million it only buys one more year and then its over. Antonio wants to keep his pay going as long as he can. Now Kodak is going to float bonds to pay off the bank????Someone is going to get screwed big time!!! When the place is closed the bondholders get screwed not the bank and Antonio gets more cash to retire on. They will offer these bonds at 12%. The suckers will go for it just like Facebook stock. Antonio gets the bank of his back and buys a year.
#2 Nov 12, 2012
Perez thinks he can borrow his way out of debt. Kodak claims to have $5.3B in assets. $4.4B is in intellectual property. He is selling off what he has claimed as $3.2B in assets for %500M. That just wideness the gap of the $6.8B indebitness, not including the $973M he is going to borrow.
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