Pacific Ethanol, Inc. Retires Its Senior Unsecured Notes
SACRAMENTO, Calif., April 15, 2014 (GLOBE NEWSWIRE) -- 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
Safe Harbor Statement under the Private Securities Litigation Reform Act of
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,
CONTACT: Company IR Contact:
Pacific Ethanol, Inc.
IR Agency Contact:
Pacific Ethanol, Inc.
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