Alto Ingredients Inc (ALTO)

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PEIX Retires $17 Million in Plant Term Debt

Eliminates All Legacy Western Plant Debt Obligations


SACRAMENTO, Calif., March 01, 2016 (GLOBE NEWSWIRE) -- Pacific Ethanol, Inc. (NASDAQ:PEIX), a leading producer and marketer of low-carbon renewable fuels in the United States, announced it has paid in cash and retired the remaining $17.0 million in consolidated plant debt related to its West Coast production facilities. The final payment was made at par, with the lender waving the pre-payment penalty.

Neil Koehler, Pacific Ethanol’s president and CEO stated, “Retiring the remaining $17.0 million in debt obligations related to our Pacific Ethanol West Plants is an important milestone for the company. Our ability to retire the legacy plant debt using cash reflects our strengthening financial position over the past several years. In addition, by lowering our consolidated debt balance we are significantly reducing our overall cost of capital, and thus improving future earnings.”