Green Plains pays down $500 million secured term loan due 2023

By Susanna Moon

Chicago, Nov. 28 – Green Plains Inc. said it repaid its $500 million senior secured term loan due 2023.

“When we announced our portfolio optimization plan in May, our priorities included proving the value of our assets and significantly reducing or eliminating term debt and I am pleased to say we have achieved those objectives,” Todd Becker, president and chief executive officer of Green Plains, said in a press release.

“For the first time in Green Plains’ history, we have no term debt which is a direct result of our efforts to strengthen our balance sheet through the completion of the reported asset sales.”

“We continue to focus our efforts on additional asset divestments, investing in high-protein process technology, repurchasing shares and reducing controllable expenses,” Becker added.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.