Pacific Ethanol reworking more debt extensions with lenders

In California, Pacific Ethanol, Inc. reported it has reached agreements in principle for long-term amendments with its lenders and has secured short-term extensions to allow time for the company, its senior secured lenders and Pacific Ethanol Pekin LLC’s term lenders to prepare documentation implementing the agreements.

Neil Koehler, Pacific Ethanol’s president and CEO, stated, “We are working constructively with all our lenders to conclude agreements that will support the company as we continue to implement our strategic plan. We are working diligently to finish the documentation and look forward to sharing the terms of these amendments.