(Sioux Falls)- Ethanol producer Verasun Energy Corp. has announced the us bankruptcy court has entered orders granting final approval for debtor-in-possession financing totaling 196.6 million dollars.
The financing includes 93.6 million dollars of incremental financing to be provided by certain holders of Verasun’s 9 7/8 percent Senior Secured notes due in 2012.
The incremental financing will make it available to fund operations in Hartley and to maintain the idled Welcome, Minnesota facility.
Verasun operates 16 biorefineries in the upper midwest.
(Story from the Associated Press.).
