Aemetis units refinance construction loan with $25 million term loan

By Mary Katherine Stinson

Lexington, Ky., Dec. 29 – Aemetis Biogas 1 LLC and Aemetis Biogas Holdings LLC, wholly owned subsidiaries of Aemetis, Inc., obtained a $25 million term loan on Dec. 22 to pay-off and refinance a construction loan previously provided for its biogas dairy digester project at five dairies, according to an 8-K filing with the Securities and Exchange Commission.

As with the loan being repaid, Greater Nevada Credit Union provided the funding.

The loan has an initial interest rate of 9.25%, to be adjusted every five years to a rate based on Treasuries plus 500 basis points.

Payments will be interest-only for 12 months, with payments of equal combined monthly installments of principal and interest beginning on Jan. 22, 2025.

The entire unpaid principal, plus accrued interest, will become due on the maturity date of Dec. 22, 2042.

Aemetis is a Cupertino, Calif.-based renewable natural gas, renewable fuel and biochemicals company.

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