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Article: Pure Biofuels Announces Financing Transaction.
- Article from:
- Energy Weekly News
- Article date:
- August 21, 2009
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Pure Biofuels Corp. (OTCBB:PBOF) announced that it has entered into a financing transaction with Banco Internacional Del Peru S.A.A. ("Interbank") in the amount of approximately $43 million to restructure its existing debts. This transaction allowed the Company to pay off its approximately $41 million loan from Plainfield Peru I LLC and Plainfield Peru II LLC ("Plainfield"). As part of the financing, the Company announced that it has issued and sold to Plainfield $34,312,219.62 in convertible notes, which are convertible into 114,374,066 shares of the Company's common stock, subject to adjustment and entered into related agreements with Plainfield, allowing the Company to ...