Biofuels Solutions seeks $230 million credit facility

By Sara Rosenberg

New York, July 27 - Biofuels Solutions is in market with a $230 million credit facility, according to a market source.

BNP Paribas is the lead bank on the deal.

The facility, which launched earlier this week, consists of a $210 million construction/term loan and a $20 million revolver, with both tranches talked at Libor plus 300 basis points, the source said.

Proceeds will be used to fund the Woodriver ethanol project in Nebraska and the Fairmont ethanol project in Minnesota.

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