Eastman Kodak Co. reached a deal with bondholders for $793 million in loans that could help take the onetime photography icon out of bankruptcy proceedings if it sells a collection of patents for at least $500 million, the Wall Street Journal reported yesterday. Some Kodak bondholders, however, criticized the company in court saying that it had "squandered" the 10 months it had been in bankruptcy protection by pinning its hopes on the patent sale. Bondholders including Centerbridge Partners LP, GSO Capital Partners LP, JPMorgan Securities LLC and UBS AG are providing Kodak with the new financing. Kodak's board met Sunday night to approve the package.
