The new loan will mature on December 31, 2021, and includes a $130.0 million term loan and a $5.0 million revolving credit facility. The term loan requires a principal payment of $7.5 million on July 15, 2020 and $2.5 million in monthly principal amortization thereafter, with a step up to approximately $3.2 million beginning May 2021. The loan is secured by substantially all of the assets of the partnership.
Green Plains Inc. is a diversified commodity processing business with operations that include corn processing, grain handling and storage and commodity marketing and logistics services. The company is one of the leading corn processors in the world and, through its adjacent businesses, is focused on the production of high-protein feed ingredients. Green Plains owns a 50 pct interest in Green Plains Cattle Company LLC and owns a 49.0 pct limited partner interest and a 2.0 pct general partner interest in Green Plains Partners LP, according to the release. (Source: Source: Green Plains Partners LP; Green Plains Inc., PR, 4 June, 2020) Contact: Green Plains Partners, Phil Boggs , Snr VP Investor Relations and Treasurer , (402) 884.8700, firstname.lastname@example.org
More Low-Carbon Energy News Green Plains Partners news,
According to Reuters, the company's new game plan is in response to an uncertain ethanol market outlook, the Trump administration's continued issuance of RFS ethanol blending "hardship waivers" and an almost 20 pct drop in revenues from ethanol sales in 2019.
As previously noted, "hardship waivers" were intended for refineries producing 75,000 bpd or less and suffered "disproportionate economic hardship" from the costs of RFS compliance. The waiver frees the refineries from an obligation to provide the EPA with biofuels credits proving compliance. Under the now vanquished administrator Greg Pruitt's direction, the EPA handed out 54 exemptions over two years and not a single waiver request for an exemption was denied.
(Source: Green Plains, Successful Farming, Feb., 2020)Contact: Green Plains, Jim Stark, VP-IR, (402) 884-8700, www.gpreinc.com
More Low-Carbon Energy News Green Plains Inc., DDGs, Ethanol, RFS,
As previously reported,
Green Plains has idled several plants and sold others, in response to a downturn in the ethanol market. (Source: Green Plains, Reuters, 18 Dec., 2018) Contact: Green Plains, Jim Stark, VP-IR, (402) 884-8700, www.gpreinc.com
More Low-Carbon Energy News Otter Tail, Green Plains, Biofuel, Ethanol,
The sale involves 280 million gallons of nameplate capacity -- roughly 20 pct of Green Plains' reported ethanol production capacity -- and is slated for closure prior to the year end. (Source: Green Plains Inc. , StreetInsider, Others, 10 Oct., 2018) Contact: Valero Renewable Fuels, Joe Gorder, Pres., (800) 324-8464, www.valero.com;
Green Plains, Jim Stark, VP-IR, (402) 884-8700, www.gpreinc.com
More Low-Carbon Energy News Valero Renewable Fuels, Green Plains, Ethanol,
Using Enogen corn as a portion of the feedstock enables alpha amylase enzyme to be delivered directly in the grain, reduces the viscosity of the corn mash and eliminates the need to add a liquid form of the enzyme in the ethanol production process.
Syngenta's enogen corn enzyme technology is an in-seed innovation featuring the first biotech corn output trait designed to enhance ethanol production. Using modern biotechnology to deliver alpha amylase enzyme directly in the grain.
Enogen hybrids have been shown to perform equal to or better than other high-performing corn hybrids, according to the company. (Source: Wallaces Farmer, 11 Dec., 2017) Contact: Enogen, www.enogen.com; Green Plains, Jim Stark, VP-IR, (402) 884-8700, www.gpreinc.com; Syngenta, Jeff Oestmann, Head of Enogen Div, (877) 436-0436, email@example.com, www.syngenta.com
More Low-Carbon Energy News Green Plains, Syngenta, Corn Ethanol, Corn, Enogen,
The recently completed $50 million export and import fuels terminal is owned and operated by Jefferson Energy Companies and can simultaneously receive and unload two ethanol unit trains at the the rate 7,000 bph.
The terminal is a public-private partnership between the Port of Beaumont Navigation District of Jefferson County, Texas and Jefferson Energy Companies. (Source: Fortress Transportation and Infrastructure Investors LLC; Green Plains Inc., Jefferson Gulf Coast Energy Partners, 4 Dec., 2017) Contact: Fortress Transportation and Infrastructure , Alan Andreini, MD, (212) 798-6128 firstname.lastname@example.org, www.ftandi.com;
Green Plains, Patrich Simpkins
Chief Development Officer ,
Green Plains Inc.
email@example.com, www.gpreinc.com; Green Plains Partners, www.greenplainspartners.com
More Low-Carbon Energy News Green Plains, Ethanol,