Green Plains completes $350 million sustainability-linked revolver

By Wendy Van Sickle

Columbus, Ohio, March 28 – Green Plains Inc. completed a five-year $350 million senior secured sustainability-linked revolving credit facility, according to a news release.

The revolver will support general corporate and working capital needs of the company and was entered into by three wholly owned subsidiaries of Green Plains.

It replaces the prior independent working capital credit facilities held at Green Plains Grain Co. LLC and Green Plains Trade Group LLC.

ING Capital LLC, PNC, Fifth Third, Bank of America and BMO Harris Bank served as joint lead arrangers, and ING acted as sole bookrunner and sustainability structuring agent.

The new credit facility is the first financing Green Plains has issued with sustainability-linked targets. It is an important step in Green Plains’ journey to tie its financial structure to sustainability initiatives outlined in its 2020 sustainability report.

“This innovative financing supports the continued evolution of our capital structure, combining pre-existing facilities into one sustainability-linked credit facility that optimizes capital efficiency while creating a tangible connection between financial practices and our sustainability goals,” Patrich Simpkins, chief financial officer of Green Plains, said in the release. “The new structure streamlines working capital financing and cash flows while providing additional flexibility to support growth.”

“This financing helps achieve our long-term goal of maturing our capital structure to help drive growth and support continued innovation across our biorefinery production platform allowing for the continued expansion of the sustainable ingredients we produce,” said Todd Becker, president and chief executive officer of Green Plains added. “Driving greater efficiencies in our capital structure while increasing transparency of our focus on ESG will serve all of our stakeholders well as we strive to achieve our decarbonization targets over the next several years.”

Green Plains is an Omaha-based ethanol production, marketing and commodities company.

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