Reorg Credit Intelligence – 10/11/2021
CalPlant Bankruptcy Supported by 62% of Senior Bondholders;
Toggle Plan Envisions Sale or Restructuring
Chart
CalPlant I LLC and parent company CalPlant Holdco, manufacturers of rice straw-based medium-density fiberboard, or MDF, in Willows, Calif., filed for chapter 11 protection yesterday, Tuesday, Oct. 5, in the Bankruptcy Court for the District of Delaware. The debtors enter chapter 11 having executed a plan support agreement with about 62% of holders of the company’s senior bonds and the senior bond trustee. The PSA provides for “two largely parallel restructuring paths,” according to the first day declaration, which consists of a sale process to market test substantially all of the debtors’ assets, or, in the event a sale process is unsuccessful, a debt restructuring through a chapter 11 plan “to be negotiated in good faith with the Senior Bondholders.” Read the full story here.
Contact: Matt Danese
mdanese@reorg.com
Latest news
Software, consumer-related direct lending deals fell in H1'26
The software and technology sector, the second-most-active sector in 2025 at 17% of total deal activity, slid to fifth place in the first half of 2026.
Unconquered Territory
With most of the map still unexplored, there’s room for a sequel.