BioFuel Announces Amendment to Credit Agreement

BIOFUEL ENERGY CORP. announced today that its operating subsidiaries, which own and operate the Wood River and Fairmont ethanol plants, had amended their credit agreement. The amendment permits the subsidiaries' full access to their $20 million working capital facility and permits daily access to their revenue account, in each case solely for the purchase of corn, natural gas, chemicals, enzymes, denaturant and electricity. Previously, the subsidiaries had access to only $5 million of their working capital line and the ability to disburse their revenues only at the end of each month. As a result, the operating subsidiaries now appear to have sufficient liquidity to complete the commissioning of the ethanol plants. The Company's plants began commercial operations in June. They are expected to complete initial performance testing within the next two to three weeks. read more

Source: BioFuel Energy Corp.