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Kodak Obtains $830 Million Debtor-in-Possession Loan Commitment

Eastman Kodak Co., the bankrupt photography pioneer, obtained commitments for an $830 million exit financing, trumping a previous offer of $793 million.

The transaction, offered by the second-lien noteholder committee, includes $455 million in new money and $375 million in term portions issued to senior creditors, the company said in a regulatory filing yesterday. The financing is contingent on Rochester, New York-based Kodak’s sale of its digital imaging patents for at least $500 million.