LITTLE ROCK — Eastman Kodak Co., the bankrupt photography pioneer, has arranged $793 million in financing from some creditors to exit bankruptcy as a commercial-printing company, Kodak said Monday.

Under the deal, Kodak would borrow the money from a private investment firm, Centerbridge Partners; GSO Capital Partners, which is a subsidiary of The Blackstone Group; and banks JPMorgan Chase & Co. and UBS AG. The loan would consist of $476 million in new loans and $317 million in rollovers of old debt.

There’s a provision to convert $567 million into “exit financing,” a prerequisite for emerging from Chapter 11 protection.

The agreement requirescourt approval.

“The additional liquidity from this financing will enable Kodak to accelerate its momentum as we continue to successfully execute on our reorganization objectives and emerge in the first half of 2013,” Chief Executive Officer Antonio Perez said in a statement.

Funding is conditional on Kodak selling its patent portfolio for at least $500 million.

Kodak, based in Rochester, N.Y., has announced almost 4,000 job cuts this year as it restructures.

Perez has been selling businesses to help fund a turnaround after seeking Chapter 11 protection in January. The company, which plans to exit bankruptcy in the first half of 2013, is selling its consumerfilm, photo-kiosk and commercial-scanner businesses; continuing an extended effort to auction its digital-imagingpatents; and shuttering its consumer inkjet printer sales.

Another group of secondlien creditors had competed to provide the funding, which is made up of term loans for the bankrupt company, including as much as $567 million that can be converted to exit financing if conditions are met, the person said.

A group of second-lien noteholders separately said in a court filing Monday that they have lost faith in management, claiming the company’s ability to successfully restructure and exit bankruptcy has been jeopardized.

Kodak is suffering operating losses and burning cash at “an astounding rate” and will probably run out of money in the first half of 2013 without new financing, the creditor group said in the filing in U.S. Bankruptcy Court in Manhattan.

“The second-lien partieshave lost all faith in the ability of the debtors’ current leadership to lead the debtors’ restructuring efforts or, in fact, to lead the debtors at all,” the group said.

The noteholders oppose Kodak’s request for an extension of its exclusive right to file a reorganization plan in court. They said they can propose a plan for the company that will win court approval.

Kodak filed for bankruptcy after years of spending while the rise of digital photography eroded its film business. The company spent $3.4 billion on restructuring before bankruptcy, including payouts to fire 47,000 employees since 2003, while closing 13 factories that produced film, paper and chemicals, and 130 photo laboratories.

Information for this article was contributed by Peter Svensson of The Associated Press.

Business, Pages 22 on 11/13/2012