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The Green Plains Central City loan is comprised of a $55.0 million amortizing term loan and a $30.5 million revolving
term loan as well as a revolving credit supplement of up to $11.0 million. At December 31, 2011, $46.6 million related to the
term loan was outstanding, along with $24.7 million on the revolving term loan. The term loan requires monthly payments of
$0.6 million. The term loan and the revolving term loan mature on July 1, 2016 and the revolver matures on June 29, 2012
with an option to renew.
The Green Plains Holdings II loan is comprised of a $34.1 million amortizing term loan, a $42.6 million revolving term
loan and a $15.0 million revolving line of credit loan. At December 31, 2011, $27.9 million was outstanding on the term
loan, along with $35.7 million on the revolving term loan and $15.0 million on the revolving line of credit loan. The term
loan requires quarterly principal payments of $1.5 million. The revolving term loan requires semi-annual principal payments
of approximately $2.7 million. The amortizing term loan will mature on January 1, 2015. The revolving term loan will
mature on April 1, 2016. The revolving line of credit will mature on April 30, 2013.
On February 9, 2012, Green Plains Holdings II entered into an amended and restated credit agreement comprised of a
$26.4 million amortizing term loan and a $51.1 million revolving term loan. The final maturity dates of the amortizing term
loan and revolving term loan are July 1, 2016 and October 1, 2018, respectively.
The Green Plains Obion loan is comprised of a $60.0 million amortizing term loan and a revolving term loan of $37.4
million. At December 31, 2011, $25.7 million related to the term loan and $36.2 million on the revolving term loan was
outstanding. The term loan requires quarterly principal payments of $2.4 million. The term loan matures on August 20, 2014
and the revolving term loan matures on September 1, 2018.
The Green Plains Ord loan is comprised of a $25.0 million amortizing term loan and a $13.0 million revolving term loan
as well as a statused revolving credit supplement of up to $5.0 million. At December 31, 2011, $21.3 million related to the
term loan was outstanding, $12.2 million on the revolving term loan, along with $3.3 million on the revolver. The term loan
requires monthly payments of $0.3 million. The term loan and the revolving term loan mature on July 1, 2016 and the
revolver matures on June 29, 2012 with an option to renew.
The Green Plains Otter Tail loan is comprised of a $30.3 million amortizing term loan, a $4.7 million revolver and a
$19.2 million note payable. At December 31, 2011, $27.4 million related to the term loan, $4.7 million on the revolver and
$18.9 million on the note payable were outstanding. The term loan requires monthly principal and interest payments of $0.5
million and the note payable requires monthly principal payments of $0.3 million beginning October 1, 2014. The term loan
matures on September 1, 2018 and the revolver matures on March 23, 2012. We are currently in negotiations and expect to
renew this revolver on or before its maturity date.
The Green Plains Shenandoah loan is comprised of a $30.0 million amortizing term loan and a $17.0 million revolving
term loan. At December 31, 2011, $6.1 million related to the term loan was outstanding along with the entire $17.0 million
on the revolving term loan. The term loan requires quarterly principal payments of $1.2 million. The term loan matures on
May 20, 2013 and the revolving term loan matures on November 1, 2016.
The Green Plains Superior loan is comprised of a $23.5 million amortizing term loan and a $10.0 million revolving term
loan. At December 31, 2011, $20.8 million related to the term loan was outstanding, along with the entire $10.0 million on
the revolving term loan. The term loan requires quarterly principal payments of $1.375 million. The term loan matures on
July 20, 2015 and the revolving term loan matures on July 1, 2017.
Each term loan, except for the Green Plains Holdings II and Green Plains Otter Tail agreements, has a provision that
requires us to make annual special payments equal to a percentage ranging from 65% to 75% of the available free cash flow
from the related entity’s operations (as defined in the respective loan agreements), subject to certain limitations. During the
year ended December 31, 2011, $13.1 million was paid under these requirements.
With certain exceptions, the revolving term loans within this segment are generally available for advances throughout the
life of the commitment. Interest-only payments are due each month on all revolving term facilities until the final maturity
date, with the exception of the Green Plains Obion loan, which requires additional semi-annual payments of $4.675 million
beginning March 1, 2015.
The term loans and revolving term loans bear interest at LIBOR plus 3.00% to 4.50% or lender-established prime rates.
Some have established a floor on the underlying LIBOR index. In some cases, the lender may allow us to elect to pay interest
at a fixed interest rate to be determined. As security for the loans, the lenders received a first-position lien on all personal