Aventine refis the ethanol mortgage

In Texas, Aventine Renewables has a new  $50 million asset based revolving credit facility with Wells  Fargo Credit.  The facility matures in four years and bears interest at a variable rate of LIBOR plus 3.0% to 3.5%.   Tom Manuel, Aventine’s CEO states,  “The funding of our working capital needs in this volatile market environment is key to executing our strategy of operating at the full capacity of our assets.”