Green Plains offers $150 million six-year senior convertible notes

By Stephanie N. Rotondo

Seattle, Aug. 9 – Green Plains Inc. is offering $150 million of senior convertible notes due 2022 via a Rule144A private placement, the company said in a press release on Tuesday.

The notes are convertible upon certain circumstances into cash, common stock or a combination thereof, at the company’s option.

Proceeds will be used for general corporate purposes, including the financing of a portion of the potential acquisitions of two ethanol plants affiliated with Abengoa Bioenergy.

Green Plains is an Omaha-based diversified commodity-processing business with operations related to ethanol, distillers grains and corn oil production; grain handling and storage; a cattle feedlot; and commodity marketing and distribution services.

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