In California, Pacific Ethanol has entered into an agreement to purchase $21.54 million of Pacific Ethanol plant secured term debt and to extend the maturity date of the purchased term debt from June 2013 to June 2016. The agreement also provides for the extension of the maturity of the $10.0 million secured revolving debt facility for the plants from June 2013 to June 2015. Further, at closing, the company will purchase an additional 13% ownership interest in New PE Holdco, LLC for $1.3 million, increasing the company’s equity ownership to 80%.
More background on the story from the Digest
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