Pacific Ethanol improves cash position
August 8, 2011
| admin
In California, Pacific Ethanol has amended its senior notes yet again, reducing the amortization amount due under the notes, and extending the maturity date by three months from February 2012 to May 2012. Also, Pacific Ethanol has elected to pay its September installment in cash. Neil Koehler, Pacific’s president and CEO, stated, “The amendment reduces our monthly payment obligation and with improved cash reserves provides the company with greater flexibility to meet its debt obligations and ongoing liquidity needs.”
Category: Fuels