Existing lenders to Tropicana have offered the company around USD 400m in new financing as discussions regarding a liability management transaction continue, said two sources familiar with the matter.

The PAI Partners and PepsiCo-backed maker of orange juice held an in-person meeting with lenders last week to discuss options to bolster liquidity, Debtwire previously reported. Existing lenders and a third party have been competing to provide new financing to address the liquidity crunch.