VeraSun closes on credit line

By | July 08, 2008
VeraSun Energy Corp. in Brookings, S.D., reached an agreement with USB Investment Bank for a new revolving credit facility. The facility will allow revolving borrowings up to a maximum of $125 million, including letters of credit up to a total of $40 million. The new credit facility is available until May 30, 2011, and replaces an existing $30 million secured revolving credit facility. "As previously announced, this credit facility will provide additional liquidity sources to support our accelerated growth," said VeraSun President and Chief Executive Officer Danny Heron.