Reuters logo
BRIEF-Pacific Ethanol refinances $47.5 mln in secured promissory notes
September 18, 2017 / 12:48 PM / 3 months ago

BRIEF-Pacific Ethanol refinances $47.5 mln in secured promissory notes

Sept 18 (Reuters) - Pacific Ethanol Inc:

* Pacific Ethanol refinances $47.5 million in secured promissory notes

* Pacific Ethanol Inc - ‍has refinanced $47.5 million in promissory notes related to its July 3, 2017 acquisition of Illinois corn processing

* Pacific Ethanol - ‍to repay notes, co used $6 million of cash on hand and $42 million in proceeds from new term and revolving debt financing with Cobank, ACB​

* Pacific ethanol - co entered into two separate financing agreements with Cobank: a $24 million term debt financing and an $18 million revolving debt facility​

* Pacific ethanol inc - ‍ $24 million term debt facility matures in September 2021 and $18 million revolving debt facility matures in September 2022​

* Pacific ethanol inc - ‍ $24 million term debt facility provides for quarterly amortizing principal payments of $1.5 million each beginning December 2017 Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below