Do Good Foods’ DIP facility extended through Nov. 30

By Sarah Lizee

Olympia, Wash., Oct. 25 – KDC Agribusiness LLC, which does business as Do Good Foods, received an extension of its $30 million in debtor-in-possession facility, according to documents filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

The facility was extended through Nov. 30.

UMB Bank, NA is the DIP agent. The lenders are Nuveen Asset Management, LLC and AllianceBernstein LP, on behalf of certain funds and accounts.

Interest is 12% per annum. Default interest would rise to 14%.

There is a 4% upfront fee and a 4% exit fee.

KDC Agribusiness is a food waste recycling company based in Bedminster, N.J. The company filed bankruptcy on June 14 under Chapter 11 case number 23-10786.

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