Aventine Announces $50 Million Private Offering

Aventine Renewable Energy Holdings, Inc. (AVRW) announced plans to commence a private offering of an additional $50 million in aggregate principal amount of its 13% senior secured notes due 2015. The company intends to use the gross proceeds of the proposed offering for transaction expenses and either applied to replenish funds previously used to construct or acquire equipment and real estate pledged to secure the notes or deposited at closing with the collateral agent pending use to construct or acquire equipment and real estate pledged to secure the notes. Certain significant investors of the company have agreed to purchase any unsubscribed-for notes up to an aggregate principal amount of $50 million, subject to certain conditions