Pacific Ethanol, Inc. Announces New $10.0 Million Revolving Credit Line
SACRAMENTO, Calif., Nov. 1, 2012 (GLOBE NEWSWIRE) -- Pacific Ethanol, Inc. (Nasdaq: PEIX), the leading marketer and producer of low-carbon renewable fuels in the Western United States, announced that Pacific Ethanol Holding Co. LLC and the Pacific Ethanol plants have secured a new $10.0 million revolving line of credit with certain of their existing lenders. Credit Suisse Loan Funding LLC acted as the syndication agent for the credit facility. The credit facility provides additional working capital to support plant operations and augments the Pacific Ethanol plants' existing $40.0 million revolving credit facility.
For further details, please refer to the Form 8-K to be filed by Pacific Ethanol with the Securities and Exchange Commission.
About Pacific Ethanol, Inc.
Pacific Ethanol, Inc. (Nasdaq: PEIX) is the leading marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol also sells co-products, including wet distillers grain (WDG), a nutritional animal feed. Serving integrated oil companies and gasoline marketers who blend ethanol into gasoline, Pacific Ethanol provides transportation, storage and delivery of ethanol through third-party service providers in the Western United States, primarily in California, Arizona, Nevada, Utah, Oregon, Colorado, Idaho and Washington. Pacific Ethanol has a 67% ownership interest in New PE Holdco LLC, the owner of four ethanol production facilities. Pacific Ethanol operates and manages the four ethanol production facilities, which have a combined annual production capacity of 200 million gallons. The facilities in operation are located in Boardman, Oregon, Burley, Idaho and Stockton, California, and one idled facility is located in Madera, California. The facilities are near their respective fuel and feed customers, offering significant timing, transportation cost and logistical advantages. Pacific Ethanol's subsidiary, Kinergy Marketing LLC, markets ethanol from Pacific Ethanol's managed plants and from other third-party production facilities, and another subsidiary, Pacific Ag. Products, LLC, markets WDG. For more information please visit www.pacificethanol.net.
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