According to a filling yesterday with the UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK, several large hedge funds and banks, which have purchased debt in Eastman Kodak. On January 19th, 2012, Eastman Kodak recently filed for Chapter 11 bankruptcy. The court document outlines several firms which have purchased debt of various tiers, and the common equity. We are not sure what prices the debt was purchased at but posted the Bloomberg charts of the two main tiers of debt below:
Among the noticable funds covered:
David Einhorn’s Greenlight Capital purchased $13,000,000.00 of 2018 senior secured notes, yielding 9.75%. This is an interesting purchase by Greenlight Capital, since the firm does not typically invest in distressed debt.
Southpoint Qualified Fund and Southpoint Qualified Offshore Fund returned 2.5% net for the first quarter, compared to the S&P 500's 6.2% return and the Russell 2000's 12.7% gain. During the first quarter, Southpoint's funds averaged 133% long and 70% short. Q1 2021 hedge fund letters, conferences and more The fund's long positions added 13% gross Read More
Brevan Howard, which had a spectacular 2011, purchased $20,750,000.00 of 2018 senior secured notes, yielding 9.75%
Marc Lasry’s Avenue Capital purchased $25,000,000.00 of similar notes.
D.E. Shaw purchased $48,000,000.00 of 2018 senior secured notes, $2,000,000.00 of 2019 secured Notes, and 967,693 shares of common stock.
2019 10.625 recently sold it looks like
More details can be found below:
H/T Guru Focus