CTI Foods Completes Restructuring and Emerges From Chapter 11

CTI Foods has completed its financial restructuring and emerged from Chapter 11.

• Reduced debt by more than $400 million and is moving forward with about $110 million of committed exit financing from a new ABL facility
• An investor group led by Black Diamond Capital Management, LLC, Barings, LLC, and the asset management and investment advisory business of Guggenheim Partners has acquired a majority interest in CTI
• Barclays served as the sole arranger and sole bookrunner of the exit ABL facility
• NOTE: March.11, CTI Foods, Burger Supplier to Fast Food Chains, Files Bankruptcy

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