Pacific Ethanol subsidiary agrees on bigger credit facility volume
(ADPnews) - Oct 28, 2010 - US financial services firm Wells Fargo Capital Finance yesterday agreed to raise the maximum amount of a credit facility for California-based ethanol supplier Kinergy Marketing LLC, a subsidiary of US green fuel maker Pacific Ethanol Inc (NASDAQ:PEIX), to USD 15 million (EUR 11m) from USD 12.5 million.
In 2008, the two parties signed a loan and security agreement for the lower sum. Now, they entered into an amendment to this agreement.
The amendment also contains other customary representations, warranties, covenants and terms and conditions.
Kinergy Marketing distributes and sells ethanol in the western United States.