Renewable Energy Group Inks $150 Million Credit Expansion

A Pillsbury team represented biofuels and renewable energy producer Renewable Energy Group Inc. in an expansion of its existing $60 million credit line with Wells Fargo Capital Finance to $150 million. The Daily Journal reports that Fifth Third Bank joins Wells Fargo as a lender, with each institution providing $75 million to the line of credit. The two banks will serve as joint lead arrangers and joint book runners. The line of credit, which was initiated five years ago, has been extended an additional five years. Under the terms of the deal, Renewable Energy Group can request more loans with the lenders’ consent and can expand the credit facility by up to $200 million.