5. DEBT.

Long-term borrowings are summarized as follows (in thousands):

Kinergy Operating Line of Credit – As of March 31, 2016, Kinergy had an available borrowing base under its credit facility of $7,366,000.

Plant Term Debt – On February 26, 2016, the Company retired the $17,003,000 outstanding balance of the Pacific Ethanol West Plants’ term debt by purchasing the lender’s position for cash at par without any prepayment penalty. The purchase increased the amount of the term debt held by Pacific Ethanol to a combined $58,766,000, which is eliminated upon consolidation. As a result, the Company has no continuing obligations to any third-party lender under the credit agreements associated with the Pacific Ethanol West Plants’ term debt.

For the three months ended March 31, 2016, the Pacific Ethanol Central Plants elected to defer interest payments on their term debt in the aggregate amount of $3,786,000, which was added to the outstanding term debt balance.

At March 31, 2016, there were approximately $145.0 million of net assets of the Company’s subsidiaries that were not available to be transferred to the parent company in the form of dividends, loans or advances due to restrictions contained in the credit facilities of these subsidiaries.