UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 14, 2011
MINN-DAK FARMERS COOPERATIVE
(Exact name of Registrant as specified in its charter)
| North Dakota | 33-94644 | 23-7222188 |
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (I.R.S. Employer Identification No.) |
| 7525 Red River Road Wahpeton, North Dakota |
58075 | |
| (Address of principal executive offices) | (Zip Code) | |
Registrant’s telephone number, including area code: (701) 642-8411
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-2 under the Exchange Act (17 CFR 240.14a-2) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01 OTHER EVENTS.
On November 10, 2011 Minn-Dak Farmers Cooperative (“the Company”) amended and restated its Revolving Credit Supplement with its primary lender CoBank (“the Bank”), extending the Credit Supplement through December 31, 2011. Changes to the loan agreement include the following:
| Ÿ | The Revolving Credit Supplement increased from $50 million to $65 million for the period from November 15, 2011 through December 31, 2011. | ||||
| o | Line of Credit November 15, 2011 through December 31, 2011 $65.0 Million | ||||
| o | Line of Credit November 15, 2010 through December 31, 2010 $85.0 Million | ||||
| ▪ | The 23% reduction in seasonal line of credit in comparison to the prior year was due to a reduced seasonal need for borrowing. | ||||
| Ÿ | The Revolving Credit Supplement is scheduled for renewal prior to January 1, 2012 for the period January 1, 2012 through December 31, 2012. | ||||
The other major provisions of the Revolving Credit Supplement with the Bank remained the same.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| MINN-DAK FARMERS COOPERATIVE | ||
| Dated: November 14, 2011 | By | /S/ David H. Roche |
| David H. Roche President and Chief Executive Officer | ||