Pacific Ethanol extends payment deferral terms of credit agreements

By Sarah Lizee

Olympia, Wash., Nov. 15 – Pacific Ethanol, Inc. said that indirect wholly owned subsidiary Pacific Ethanol Pekin, LLC has entered into an amendment to extend the waiver and payment deferral terms of its credit agreements with CoBank, ACB through Dec. 15.

“We appreciate CoBank’s support of our efforts to conclude a number of strategic initiatives to strengthen our balance sheet,” Neil Koehler, Pacific Ethanol’s president and chief executive officer, said in a news release.

“We continue to have constructive and collaborative discussions with all of our stakeholders to achieve our near-term objectives and position the company for profitable growth.

“We are encouraged by the current positive margin environment as we work to complete these transactions.”

Pacific Ethanol is a Fresno, Calif., owner and operator of ethanol plants.

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