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News Breaks
June 10, 2014
08:32 EDTPEIXPacific Ethanol reduces net consolidation plant term debt to $20.5M
Pacific Ethanol announced it has acquired additional term debt of the Pacific Ethanol Plants. Pacific Ethanol entered into agreements with certain lenders of the Pacific Ethanol Plants to acquire an aggregate of $14.7M Tranche A-1 Term Loans made to the Pacific Ethanol Plants for a cash payment of $17M The $2.3M premium paid over the principal amount of the loans represents approximately a $1.3M, or 36% discount to the prepayment premiums otherwise payable by the Pacific Ethanol Plants had they elected to prepay the loans prior to maturity. The acquired loans will be eliminated in consolidation, with the premium over the principal amount recorded as a one-time debt extinguishment charge. The company's net consolidated Plant term debt after eliminations will total $20.5M.
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September 15, 2014
08:37 EDTPEIXPacific Ethanol agrees to sell CO2 from Columbia plant
Pacific Ethanol announced its agreement with Kodiak Carbonic to sell CO2 from the Pacific Ethanol Columbia plant located in Boardman, Oregon. Kodiak plans to construct a liquefaction and dry ice processing plant adjacent to the Columbia facility and expects to purchase up to 200 tons of CO2 per day to sell to food processing and beverage producers. Neil Koehler, the company's president and CEO, said, "The opportunity to utilize the CO2 from our ethanol production process as another co-product for sale further diversifies our revenues and improves Pacific Ethanol's profitability. We anticipate the new CO2 processing plant in Boardman to begin operations in early 2015 and to contribute approximately 1c-2c per gallon in operating income."
September 12, 2014
10:00 EDTPEIXOn The Fly: Analyst Initiation Summary
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September 11, 2014
18:11 EDTPEIXPacific Ethanol initiated with an Outperform at Cowen
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14:16 EDTPEIXPacific Ethanol volatility low on sharp pullback
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September 2, 2014
10:02 EDTPEIXOn The Fly: Analyst Initiation Summary
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09:15 EDTPEIXPacific Ethanol initiated with a Buy at Craig-Hallum
Target $28.
08:46 EDTPEIXPacific Ethanol raises plant ownership to 96%
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