CalPlant seeks court approval to issue $10.2 million DIP bond

By Sarah Lizee

Olympia, Wash., Oct. 20 – CalPlant I Holdco, LLC is seeking court approval to issue a $10.2 million last-out first-in debtor-in-possession bond, according to a motion filed with the U.S. Bankruptcy Court for the District of Delaware.

BOKF, NA is the bond trustee.

The bonds would be issued under the company’s existing DIP bond facility.

The LIFO DIP facility would be provided on basically the same terms as the existing facility, but would have senior priority.

The bonds are expected to provide enough liquidity for the next several months and a path towards exiting Chapter 11, CalPlant said.

Willows, Calif.-based CalPlant manufactures sustainably sourced building products. The company filed Chapter 11 bankruptcy on Oct. 5, 2021 under case number 21-11302.

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