The Wall Street Journal reported that existing lenders of GT Advanced Technologies have offered $80 million in bankruptcy-exit financing.
The Journal reported that the major creditors involved in the deal include Citigroup, Jefferies, QPB Holdings, Wolverine Flagship Fund Trading, Products and Caspian Capital, according to papers filed with the bankruptcy court on November 29.
GT Advanced Technologies filed for Chapter 11 protection on October 9, according to a complaint filed with the Bankruptcy Court of New Hampshire.
In July, GT Advanced Technologies received a $95 million DIP loan as part of ongoing restructuring efforts.
The Journal reported that GT Advanced Technologies was left with much debt after Apple ended a relationship with the company earlier this year.