Pacific Ethanol Pekin renegotiates CoBank loan payment to December 15

In California, Pacific Ethanol reported that Pacific Ethanol Pekin, LLC, an indirect wholly-owned subsidiary of Pacific Ethanol, Inc., has entered into an amendment to extend the waiver and payment deferral terms of its credit agreements with CoBank, ACB through December 15, 2019.

Neil Koehler, Pacific Ethanol’s president and CEO, stated, “We appreciate CoBank’s support of our efforts to conclude a number of strategic initiatives to strengthen our balance sheet.  We continue to have constructive and collaborative discussions with all of our stakeholders to achieve our near term objectives and position the company for profitable growth.  We are encouraged by the current positive margin environment as we work to complete these transactions.”

Further details on the amendment and related agreements can be found in Pacific Ethanol’s Form 8-K to be filed with the Securities and Exchange Commission by November 21, 2019.