BioFuel Energy arranges for $20 million line of credit for its 115 Mgy Buffalo Lake Energy plant

In Minnesota, BioFuel Energy gave a $20 million line of credit to its new 115 Mgy Buffalo Lake Energy plant in Fairmont. The line of credit coems as BioFuel reported that it had lost $39 million in hedging arrangements with Cargill, and was negotiating with Cargill concerning the repayment of more than $22 million outstanding. Observers had predicted a potential bankruptcy for Biofuel when news of the hedging losses surfaced last month.

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