Green Plains amends loan, increasing revolver, extending maturity

By Sara Rosenberg

New York, Nov. 23 - Green Plains Grain Co. LLC amended its credit facility, increasing the revolver to $107 million from $65 million, extending the maturity to Aug. 1, 2011 and revising working capital covenant amounts, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

The revolver now includes a $45 million base facility, a $20 million seasonal facility and a new $42 million bulge facility through March 31, 2011, which will decrease to $35 million from April 1, 2011 to May 31, 2011 and to zero at June 1, 2011.

The amendment was completed on Nov. 18.

First National Bank of Omaha is the lender on the deal.

Green Plains Grain is a subsidiary of Green Plains Renewable Energy, an Omaha, Neb.-based ethanol producer.

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