Pacific Ethanol PEIX announced it has fully repaid its $10.0 million
in senior unsecured notes with proceeds from the public offering that closed
Wednesday, September 26, 2012. The notes were due in April 2013.
Neil Koehler, the company's president and CEO, stated: "The equity we raised
on September 26^th allowed us to repay the $10.0 million debt in advance of
its maturity date, significantly reducing the company's short-term debt
obligations and related interest payments. This and the recent increase in our
ownership position in the plants are important milestones marking progress in
our plans to improve the profitability of our business."
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