BioFuel Energy Shares Jump 62 Percent
SIOUX FALLS, S.D. (AP) ¿ Shares of ethanol producer BioFuel Energy Corp. jumped 62 percent Thursday after the Denver-based company announced it has settled some outstanding issues with its lenders.
Shares gained 42 cents to $1.10 in afternoon trading.
BioFuel Energy said its operating subsidiaries amended their credit agreement with BNP Paribas and a group of lenders, settling all outstanding issues and lifting all defaults.
The subsidiaries, which own and operate two 115-million-gallon plants in Wood River, Neb., and Fairmont, Minn., have converted their outstanding construction loans into term loans that mature in 2014. They made their first principal payment of $3.2 million to the lenders, leaving a principal of $195.4 million.
"With our bank financing issues behind us, we look forward to refocusing on our plant optimization initiatives that are currently underway," Scott H. Pearce, BioFuel Energy's president and chief executive, said in a statement. The company last month received a delisting warning from the Nasdaq for its shares repeatedly falling under $1.Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
TheStreet Quant Ratings
TRY IT FREENew! $49.95/yr
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
Product Features:
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Dividend Stock Advisor
TRY IT FREEJim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
