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BRIEF-Pacific Ethanol to refinance term debt, acquire ownership in Aurora, NE grain elevator
December 12, 2016 / 11:18 AM / 7 months ago

BRIEF-Pacific Ethanol to refinance term debt, acquire ownership in Aurora, NE grain elevator

2 Min Read

Dec 12 (Reuters) - Pacific Ethanol Inc

* Pacific Ethanol enters agreements to refinance term debt and acquire ownership in aurora, ne grain elevator

* Pacific Ethanol Inc says reduces total debt outstanding by more than $12 million

* Pacific Ethanol Inc - will also obtain a revolving line of credit of $32.0 million secured by its pekin assets

* Pacific Ethanol Inc - entered into an agreement with Aurora Cooperative Elevator Company (ACEC)

* Pacific Ethanol Inc- Pacific Ethanol will contribute its Aurora plant assets into a newly created company, Pacific Aurora, Llc

* Pacific Ethanol Inc- ACEC will simultaneously contribute its aurora west grain elevator, loop track, related land and other assets into pal

* Pacific Ethanol Inc - increases Kinergy line of credit to $85 million

* Pacific Ethanol Inc says increases cash, working capital and liquidity resources by $55 million

* Pacific Ethanol Inc - will obtain a new five-year term amortizing loan from CoBank and first farm credit in amount of $64.0 million

* Pacific Ethanol Inc - is refinancing its $155.1 million principal term debt, due in september 2017

* Pacific Ethanol Inc - Pacific Ethanol will sell a 14% interest in pal to acec for $30.0 million in cash

* Pacific Ethanol-deals to result in co owning 74% and acec owning 26% of combined ethanol production, grain elevator and rail facilities in Aurora Source text for Eikon: Further company coverage:

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