Replies to post #17951 on Alto Ingredients Inc (ALTO)

[ji_2013]

good news !!!! please read

Pacific Ethanol Closes Financing Transaction to Reduce Plant Debt and Acquire Additional Plant Ownership Interest

SACRAMENTO, Apr 01, 2013 (GLOBE NEWSWIRE via COMTEX) -- Pacific Ethanol, Inc. PEIX -8.90% , the leading marketer and producer of low-carbon renewable fuels in the Western United States, has closed the first tranche of a financing transaction under which the company:

-- Issued $6.0 million in Series A subordinated convertible notes

-- Purchased $2.6 million of Plant debt originally due in June 2013, now extended to June 2016

-- Acquired an additional 3% Plant ownership interest, increasing its ownership to over 83%

-- Purchased and retired $3.5 million of Plant debt maturing in 2016

-- Increased a Plant credit facility by $5.0 million

A second tranche under the financing agreements of $8.0 million of Series B subordinated convertible notes is scheduled to close in June 2013, subject to the satisfaction of certain closing conditions, including stockholder approval of the financing transaction.

Neil Koehler, the company's president and CEO, stated: "With the closing of these transactions, we have made significant improvements to the company's balance sheet by reducing plant debt and extending debt maturities, reducing overall interest costs and increasing our ownership interest in the Pacific Ethanol Plants to over 83%. Upon completion of the second tranche of the financing, we will have eliminated our Plant debt due in 2013, providing a more stable capital structure for the long term growth of our company."

About Pacific Ethanol, Inc.