Dec 18 (Reuters) – Hedge funds that have been in discussions with Eastman Kodak Co to help shore up the company’s cash position, have cut the amount they are willing to finance, the Wall Street Journal reported on Sunday.
The 131-year old company has been in talks for new financing with a consortium of hedge funds including Cerberus Capital Management LP and Highbridge Capital Management LLC, the report said.
While discussions originally centered on a package of about $900 million, the hedge funds recently cut the amount they are willing to provide to somewhere between $600 million and $700 million, the WSJ said, citing people familiar with the matter.
Oct. 3 (Bloomberg TV interview) — Mark Kaufman, an analyst at Rafferty Capital Markets LLC, discusses the outlook for Eastman Kodak Co.
Full story: Kodak’s financing plans faces obstacles-report | Reuters.