KKR will buy up to $400m of senior secured notes in Eastman Kodak, reports the FT. The troubled US photography company is raising as much as $300m in convertible debt through a private placement, part of which will go to repurchasing earlier debt. KKR will also buy warrants for the right to purchase up to 53m of Kodak’s 268m outstanding shares for an average $5.50 each. The financing deal, notes the WSJ, comes at a steep price, potentially giving KKR a 20% equity stake in Kodak.

This entry was posted by Gwen Robinson on Thursday, September 17th, 2009 at 4:45 and is filed under Capital markets, Private equity. Tagged with Eastman Kodak, kkr. Edit this entry.