Biofuels gets £7 million loan from Barclays; on-demand facilities rolled over to Dec. 31

By Caroline Salls

Pittsburgh, June 1 - Biofuels Corp. plc's on-demand banking facilities from Barclays have been rolled over to Dec. 31, 2007, and the lender has agreed to provide £7 million of additional facilities, according to a news release.

The additional facilities will be used for working capital and fixed capital, and Biofuels said its board expects the financing to be enough to fulfill its interim funding requirements.

As previously reported, Biofuels has also received restructuring proposals from Barclays.

Based in the United Kingdom, Biofuels' principal activity is constructing and operating biodiesel plants.

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