REG Newton Extends Loan Agreement for One Year
Renewable Energy Group (NASDAQ: REGI) today announced its REG Newton, LLC loan with AgStar Financial Service, PCA was extended for one additional year.
REG Newton, LLC entered into this debt agreement with AgStar in conjunction with the related March 2010 acquisition of the assets of Central Iowa Energy, LLC.
“We're pleased that the lender syndicate saw fit to extend this note in a routine manner,” explained REG Chief Financial Officer, Chad Stone, of the agreement which has a new maturity date in March 2014.
All material terms remain the same for the 30 million gallon per year biorefinery.
Renewable Energy Group® is a leading North American biodiesel producer with a nationwide distribution and logistics system. Utilizing an integrated value chain model, Renewable Energy Group is focused on converting natural fats, oils and greases into advanced biofuels. With more than 225 million gallons of owned/operated annual production capacity at biorefineries across the country, REG is a proven biodiesel partner in the distillate marketplace.
For more than a decade, REG has been a reliable supplier of biodiesel which meets or exceeds ASTM quality specifications. We sell REG-9000® biodiesel to distributors so Americans can have cleaner burning fuels that help lessen our dependence on foreign oil and reinforce food security. REG-9000® branded biodiesel is distributed in most states in the U.S.
Renewable Energy Group
Alicia Clancy, 515-239-8118