CTI Foods Obtains Interim Approval for $142.5MM in DIP Financing

Custom foodservice manufacturer CTI Foods has been granted interim approval to access up to $142.5 million of its $155 million in DIP financing provided by Barclay’s Bank and Wells Fargo.

Barclay’s, Wells Fargo to Provide $155MM DIP Financing to CTI Foods

CTI Foods filed for voluntary petitions under Chapter 11 in order to implement its financial restructuring plan. Barclays Bank and Wells Fargo will provide the company with $155 million in DIP financing to support it through the restructuring.