VeraSun Receives Financing
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Posted by Cindy Zimmerman – November 4th, 2008
One of the country’s largest ethanol producers is getting financing in place to maintain operations at 14 plants in eight states under Chapter 11 reorganization.
VeraSun Energy Corporation reports it has received commitments for up to $215 million in debtor in possession financing and the U.S. Bankruptcy Court entered an interim order allowing VeraSun and its affiliates to borrow up to $40 million. VeraSun is also in negotiations with its other lenders and expects to receive commitments totaling up to $250 million.
VeraSun and 24 of its subsidiaries filed for relief under chapter 11 of the U.S. Bankruptcy Code on October 31.
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don davidson
If the next president is serious about alternative fuels, he will not let VeraSun or any other company that is helping the US produce its own home grown fuels fail. VeraSun is not a start up company, it is the second largest next to Poet, and it will be needed if our country wants to get off forien oil.
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