Quarterly report pursuant to Section 13 or 15(d)

Debt.

v3.21.1
Debt.
 3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]  
DEBT.

6. DEBT.


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


    March 31,
2021		     December 31,
2020		  
Kinergy line of credit   $ 45,554     $ 32,512  
Pekin revolving loan     17,580       20,580  
ICP revolving loan     9,384       9,384  
Parent notes payable     20,001       25,533  
CARES Act loans     9,860       9,860  
      102,379       97,869  
Less unamortized debt premium     174       230  
Less unamortized debt financing costs     (576 )     (759 )
Less short-term portion     (37,581 )     (25,533 )
Long-term debt   $ 64,396     $ 71,807  

Parent Notes Payable – On May 14, 2021, with proceeds from the Company’s sale of its Madera, California facility, it repaid $19.3 million of principal on its notes payable, with $0.7 million remaining.


Maturities of Long-term Debt – The Company’s long-term debt matures as follows (in thousands):


December 31:

      
2021   $ 20,001  
2022     82,378  
    $ 102,379  

Restrictions – At March 31, 2021, there were approximately $231.9 million of net assets at the Company’s subsidiaries that were not available to be transferred to Alto Ingredients, Inc. in the form of dividends, loans or advances due to restrictions contained in the credit facilities of the Company’s subsidiaries.