Clean Energy Fuels Retires 2016 Debt With Stock And Cash

The company clarified that no amounts remained due and what was owed under the 2016 notes and all 2016 notes were terminated and cancelled in full. At the end of June, the company had about $182.0 million in cash and short-term investments.

Clean Energy President and CEO Andrew Littlefaire said, "We have achieved several significant milestones in the last six months, including retiring all the 2016 Notes, repurchasing over $65 million of the 5.25 percent Convertible Notes due 2018, cutting capital expenditures and reporting improved financial results."

Related Link: Clean Energy Fuels Issued 14 Million Shares Of Stock To Pay Down Convertible Note Did you like this article? Could it have been improved? Please email feedback@benzinga.com to let us know!

He continued, "We completed the build-out of the initial phase of our America's Natural Gas Highway and will continue to focus on leveraging our existing infrastructure with new customers and expanding with our existing customers. I'm proud that the Clean Energy team has been able to accomplish so much despite the competitive environment of low oil prices the last few years. I remain optimistic about the future as more and more fleets are realizing the environmental and cost benefits of natural gas fuel."

At time of writing, shares of the company traded 2.96 percent down on the day to $3.44.