Pacific Ethanol, Inc. Repays $10 Million in Unsecured Notes
Reduces the company’s short-term debt and interest payments
Pacific Ethanol, Inc., the leading marketer and producer of low-carbon renewable fuels in the Western United States, announced it has fully repaid its $10 million in senior unsecured notes with proceeds from the public offering that closed Wednesday, September 26, 2012. The notes were due in April 2013.
Neil Koehler, the company’s president and CEO, stated: “The equity we raised on September 26th allowed us to repay the $10 million debt in advance of its maturity date, significantly reducing the company’s short-term debt obligations and related interest payments.
This and the recent increase in our ownership position in the plants are important milestones
marking progress in our plans to improve the profitability of our business.”
