AltraBiofuels Secures $165.5 M for Two Ethanol Plants

Los Angeles, California [] AltraBiofuels, a California-based producer of renewable biofuels, has secured an additional $165.5 million of debt financing for the construction and completion of two state-of-the-art ethanol production facilities located in Coshocton, Ohio and Cloverdale, Indiana. Expected dates of completion are the fourth quarter of 2007 for Ohio and early in the second quarter 2008 for Indiana. The financing in Indiana was arranged and issued by AgStar and Home Federal in December 2006. For the Ohio project, AltraBiofuels very recently issued Taxable Revenue Bonds Series 2007 under the State of Ohio Air Quality Development Authority with Morgan Stanley as placement agent.
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