Pacific Ethanol, Inc. Retires Its Senior Unsecured Notes
April 15 2014 - 8:30AM
Pacific Ethanol, Inc. (Nasdaq:PEIX), the leading
producer and marketer of low-carbon renewable fuels in the Western
United States, announced it has retired in full its $22.2 million
in original principal amount of senior unsecured notes by repaying
the remaining principal balance of less than $1.0 million.
Neil Koehler, the company's president and CEO, stated: "With the
retirement of our senior unsecured notes, we have eliminated all
indebtedness of the parent company, which lowers our overall cost
of borrowing, improves profitability and provides a more stable
financial condition for continued growth."
About Pacific Ethanol, Inc.
Pacific Ethanol, Inc. (Nasdaq:PEIX) is the leading producer and
marketer 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
91% ownership interest in PE Op Co., 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 facility is located in Madera,
California that is currently being restarted. 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.com.
Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995
With the exception of historical information, the matters
discussed in this press release including, without limitation, the
ability of Pacific Ethanol to continue as the leading producer and
marketer of low-carbon renewable fuels in the Western United States
and the effects of the retirement of Pacific Ethanol's senior
unsecured notes are forward-looking statements and considerations
that involve a number of risks and uncertainties. The actual future
results of Pacific Ethanol could differ from those statements.
Factors that could cause or contribute to such differences include,
but are not limited to, adverse economic and market conditions;
changes in governmental regulations and policies; and other events,
factors and risks previously and from time to time disclosed in
Pacific Ethanol's filings with the Securities and Exchange
Commission including, specifically, those factors set forth in the
"Risk Factors" section contained in Pacific Ethanol's Form 10-K and
in the final prospectus supplement relating to the proposed
offering filed with the Securities and Exchange Commission on March
31, 2014 and April 3, 2014, respectively.
CONTACT: Company IR Contact:
Pacific Ethanol, Inc.
916-403-2755
866-508-4969
Investorrelations@pacificethanol.com
IR Agency Contact:
Becky Herrick
LHA
415-433-3777
Media Contact:
Paul Koehler
Pacific Ethanol, Inc.
916-403-2790
paulk@pacificethanol.com
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