Ames-based Renewable Energy Group announced today its REG Newton loan with AgStar Financial Services was extended for one additional year.
REG Newton entered into the debt agreement with AgStar in conjunction with its 2010 acquisition of the assets of Central Iowa Energy, LLC.
The master loan agreement entered on March 8, 2010 has had its maturity date extended until March 8, 2014.
"We're pleased that the lender syndicate saw fit to extend this note in a routine manner," said REG Chief Financial Officer Chad Stone.
All other items involved in REG's acquisition of the assets and liabilities of the 30-million gallon per year biorefinery in Newton remain the same.