Simpson Thacher represented affiliates of JPMorgan Chase Bank, N.A. and Barclays Bank PLC as joint lead arrangers in connection with a $420 million senior term loan facility, a $275 million junior term loan facility and a $200 million asset-based revolving credit facility. JPMorgan and Barclays will act as administrative agents under the term loan facilities. The exit financing was effectuated through a plan of reorganization confirmed by the Bankruptcy Court for the Southern District of New York on August 23, 2013 and was consummated upon Kodak’s exit from bankruptcy.
After 18 months in bankruptcy, Kodak is emerging as a leaner technology company dedicated to serving the imaging needs for business markets, including packaging, functional printing, graphic communications and professional services.
The Simpson Thacher team for the transaction include: Alexandra Kaplan, Chad Pearlman and Michael Monteleone (Banking): Sandy Qusba, Kathrine A. McLendon and Terry Sanders (Restructuring); Marcela Robledo and Julia Van de Walle (Intellectual Property); Michael Isby (Environmental); Robert Holo and Sophie Staples (Tax); Janet Nadile and Jonathan Pall (UCC/Collateral).
