Pacific Ethanol, Inc. Extends Maturity of Senior Notes, Amends Term Loans and Enters into Letters of Intent to Sell Certain Assets
PACIFIC ETHANOL (PEIX)
Last pacific ethanol earnings: 3/26 04:05 pm
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Source: GlobeNewswire
Senior Secured Notes maturity extended two years to December 15, 2021Scheduled principal payments on Senior Secured Notes and Pekin Term Loan deferred until September 2020Existing financial covenants waived on Pekin and ICP credit facilitiesEntered into non-binding letters of intent to sell certain assets SACRAMENTO, Calif., Dec. 23, 2019 (GLOBE NEWSWIRE) -- Pacific Ethanol, Inc. (NASDAQ: PEIX), a leading producer and marketer of low-carbon renewable fuels and high-quality alcohol products in the United States, entered into long-term amendments to its senior secured notes and to its term loans with CoBank and Compeer Financial for its Pekin and Illinois Corn Processing plants. Neil Koehler, Pacific Ethanol’s president and CEO, stated, “We are pleased to announce that we have finalized agreements with all of our lenders to improve our liquidity and give us the runway to complete our strategic initiatives, the successful conclusion of which will result in an improved balance sheet a
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