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EX-10.1 - EX-10.1 - Green Plains Inc.d434501dex101.htm

 

 

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)

July 28, 2017

 

 

GREEN PLAINS INC.

(Exact name of registrant as specified in its charter)

 

 

 

Iowa   001-32924   84-1652107

(State or other jurisdiction

of incorporation)

 

(Commission

file number)

 

(IRS employer

identification no.)

 

1811 Aksarben Drive, Omaha, Nebraska   68106
(Address of principal executive offices)   (Zip code)

(402) 884-8700

(Registrant’s telephone number, including area code)

 

 

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-12 under the Exchange Act (17 CFR 240.14a-12)

 

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))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company   ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐

 

 

 


Item 1.01. Entry into a Material Definitive Agreement.

On July 28, 2017, Green Plains Trade Group LLC entered into an amendment and restatement of its Revolving Credit and Security Agreement with a group of lenders led by PNC Bank, National Association and Bank of America, N.A. This Fourth Amended and Restated Revolving Credit and Security Agreement was completed to fund additional working capital requirements.

The amended facility increases the principal amount of the revolving credit facility from $150 million to $300 million and modifies certain borrowing base definitions. The amended facility increases advance rates on eligible collateral and modifies the eligible inventory definitions to include additional commodities and locations. Advances are subject to variable interest rates equal to a daily LIBOR rate plus 2.25% or the base rate plus 1.25%. The unused portion of the credit facility is also subject to a commitment fee of 0.375% per annum. The maturity date is extended from November 26, 2019 to July 28, 2022.

Discussed above are the key modifications in the Fourth Amended and Restated Revolving Credit and Security Agreement and the corresponding Credit Notes, which is not intended to be inclusive of all modifications. The Fourth Amended and Restated Revolving Credit and Security Agreement is attached as an exhibit hereto and incorporated herein by reference.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information disclosed in Item 1.01 is incorporated by reference into this Item 2.03.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits. The following exhibit is filed as part of this report.

 

Exhibit
Number

  

Description of Exhibit

10.1    Fourth Amended and Restated Revolving Credit and Security Agreement dated July 28, 2017 among Green Plains Trade Group LLC, the Lenders and PNC Bank, National Association as Lender and Agent


SIGNATURES

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 hereunto duly authorized.

 

 

Date: July 31, 2017

  

Green Plains Inc.

 

By: /s/ Jerry L. Peters                     

Jerry L. Peters

Chief Financial Officer

(Principal Financial Officer)