REG expands line of credit to $150M, with option of $200M
Ames-based biofuels company Renewable Energy Group, Inc. has signed an agreement with Wells Fargo Bank Capital Finance and Fifth Third Bank to expand the company’s line of credit to $150 million from $60 million. Fifth Third Bank has joined Wells Fargo as a lender under the line of credit, which runs through September 2021. The company will have the right to extend the credit to $200 million. Chad Stone, REG’s chief financial officer, said the change positions the company for added growth. Read the full news release.
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