- Completed the purchase of the 100-mmgy Hereford, Texas facility in November 2015 for approximately $93.8 million, in a transaction valued at $78.5 million for the ethanol production facility with the balance for working capital
- Sold the Hopewell and Hereford storage and transportation assets to the partnership for $62.5 million in January 2016
- Repurchased approximately 192 thousand shares of common stock for $4.0 million in September.
- Added 35 mmgy of production capacity to existing ethanol plants for $19.6 million.
- Acquired a 60-mmg ethanol production facility in Hopewell, Va. on Oct. 26, 2015
- On July 1, 2015, our newly-formed Partnership closed its initial public offering. We contributed our downstream ethanol transportation and storage assets to the Partnership. A total of 11.5 million common units representing limited partner interests of the Partnership. The units were sold at a price to the public of $15.00 per common unit. The Partnership received net proceeds of approximately $157.9 million from the Offering of the common units, after deducting the underwriting discount, structuring fees and offering expenses. Green Plains owns approximately 62.5%limited partner interest and a 2% general partner interest in the Partnership and the public owns the remaining 35.5% limited partner interest in the Partnership.
- During the second quarter of 2015, Green Plains Processing LLC, a wholly-owned subsidiary of Green Plains, amended its senior secured credit facility to increase the outstanding borrowings by $120 million. The proceeds were primarily used to refinance debt outstanding, with maturity dates ranging from November 2015 to May 2020, at certain of Green Plains’ subsidiaries and to pay fees and expenses in connection with the increased credit facility and for general corporate purposes.