NEWS
Thu Dec 27, 2012 03:09 PM CST

STREATOR, Ill. (DTN) -- Renewable Energy Group on Thursday, Dec. 27, said it paid off long-term debt obligations against its 60-million-gallon-per-year biodiesel production plant in Seneca, Ill.

REG Seneca, LLC retired its outstanding long-term debt obligation of $34.5 million on Dec. 21 with cash generated from operations since April 2010.

"When we acquired Seneca, we believed the restrictive debt structure was appropriate because the plant was purchased out of bankruptcy," stated Daniel J. Oh, REG president and CEO.

Oh said as REG Seneca came online and its production technology was proven, the natural cash flow generated from the biorefinery allowed ...

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