Kodak and KKR: Distressed Debt Investing 101 - Deal Journal - WSJ

Kodak and KKR: Distressed Debt Investing 101 - Deal Journal - WSJ: "KKR will buy up senior secured notes carrying interest rates as high has 10.5%, which is twice the blended interest rate that Kodak is paying on its current debtload. The firm will also receive warrants to convert the debt into 53 million Kodak shares.....KKR is essentially acting as a lender of last resort, while gaining the