GPP Green Plains Partners LP

Green Plains Partners Completes Debt Refinancing

Green Plains Partners Completes Debt Refinancing

OMAHA, Neb., June 04, 2020 (GLOBE NEWSWIRE) -- Green Plains Partners LP (NASDAQ:GPP) and Green Plains Inc. (NASDAQ:GPRE) announced today the successful refinancing of the partnership’s debt facility which was arranged by Bank of America. The loan was approved by all of its existing lenders and became effective on June 4, 2020.

“Green Plains Partners continues to maintain ample liquidity and strong cash flow supported by long-term minimum volume commitments,” said Todd Becker, president and chief executive officer of Green Plains Partners. “The closing of this transaction and repayment of debt over the next 18 months will be beneficial to all stakeholders, allowing us to allocate capital toward potential increases in future distributions.”

The new loan will mature on December 31, 2021, and includes a $130.0 million term loan and a $5.0 million revolving credit facility. Interest on the loan is Libor based with a 1.00% floor, plus 450 to 525 basis points depending on certain conditions. The term loan requires a principal payment of $7.5 million on July 15, 2020 and $2.5 million in monthly principal amortization thereafter, with a step up to approximately $3.2 million beginning May 2021. The loan is secured by substantially all of the assets of the partnership.

About Green Plains Partners LP

Green Plains Partners LP (NASDAQ:GPP) is a fee-based Delaware limited partnership formed by Green Plains Inc. to provide fuel storage and transportation services by owning, operating, developing and acquiring ethanol and fuel storage tanks, terminals, transportation assets and other related assets and businesses.

About Green Plains Inc.

Green Plains Inc. (NASDAQ:GPRE) is a diversified commodity-processing business with operations that include corn processing, grain handling and storage and commodity marketing and logistics services. The company is one of the leading corn processors in the world and, through its adjacent businesses, is focused on the production of high-protein feed ingredients. Green Plains owns a 50% interest in Green Plains Cattle Company LLC and owns a 49.0% limited partner interest and a 2.0% general partner interest in Green Plains Partners LP. For more information about Green Plains, visit .

Green Plains Contacts

Investors: Phil Boggs | Senior Vice President - Investor Relations and Treasurer | 402.884.8700 |

Media: Leighton Eusebio | Manager - Public Relations | 402.952.4971 |

EN
04/06/2020

Underlying

GPPGreen Plains Partners LP

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Green Plains Partners LP

Free Trial
GPP Green Plains Pa...

Green Plains Partners LP: 1 director

A director at Green Plains Partners LP sold 3,200 shares at 12.250USD and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years...

GPP GREEN PLAINS PARTNERS LP
12/10/22 December 10, 2022 1 EN
 PRESS RELEASE
Free
GPP Green Plains Pa...

Green Plains Partners Reports Third Quarter 2022 Financial Results

Green Plains Partners Reports Third Quarter 2022 Financial Results Results for the Third Quarter of 2022 Net income of $10.2 million, or $0.43 per common unitAdjusted EBITDA of $13.0 million and distributable cash flow of $11.3 millionQuarterly cash distribution increased to $0.455 per unitDistribution coverage ratio of 1.05x; LTM distribution coverage ratio of 1.06xLeverage ratio, net of cash; 0.84x Adjusted EBITDA OMAHA, Neb., Nov. 03, 2022 (GLOBE NEWSWIRE) -- Green Plains Partners LP (NASDAQ:GPP) today announced financial and operating results for the third quarter of 2022. Net incom...

November 3, 2022 1 EN
 PRESS RELEASE
Free
GPP Green Plains Pa...

Green Plains Partners Increases Quarterly Distribution

Green Plains Partners Increases Quarterly Distribution OMAHA, Neb., Oct. 20, 2022 (GLOBE NEWSWIRE) -- Green Plains Partners LP (NASDAQ:GPP) today announced that the Board of Directors of its general partner declared a quarterly cash distribution of $0.455 per unit on all of its outstanding common units for the third quarter of 2022, or $1.82 per unit on an annualized basis. The increase over the previous quarterly distribution of $0.45 per unit is the fifth consecutive increase. The distribution is payable on November 14, 2022, to unitholders of record at the close of business on November...

October 20, 2022 1 EN
 PRESS RELEASE
Free
GPP Green Plains Pa...

Green Plains Partners Reports Second Quarter 2022 Financial Results

Green Plains Partners Reports Second Quarter 2022 Financial Results Results for the Second Quarter of 2022 Net income of $10.5 million, or $0.44 per common unitAdjusted EBITDA of $12.9 million and distributable cash flow of $11.3 millionQuarterly cash distribution increased to $0.45 per unitDistribution coverage ratio of 1.06x; LTM distribution coverage ratio of 1.07xLeverage ratio, net of cash; 0.82x Adjusted EBITDA OMAHA, Neb., Aug. 02, 2022 (GLOBE NEWSWIRE) -- Green Plains Partners LP (NASDAQ:GPP) today announced financial and operating results for the second quarter of 2022. Net inc...

August 2, 2022 1 EN
 PRESS RELEASE
Free
GPP Green Plains Pa...

Green Plains Partners Increases Quarterly Distribution

Green Plains Partners Increases Quarterly Distribution OMAHA, Neb., July 21, 2022 (GLOBE NEWSWIRE) -- Green Plains Partners LP (NASDAQ: GPP) today announced that the Board of Directors of its general partner declared a quarterly cash distribution of $0.45 per unit on all of its outstanding common units for the second quarter of 2022, or $1.80 per unit on an annualized basis. The increase over the previous quarterly distribution of $0.445 per unit is the fourth consecutive increase. The distribution is payable on August 12, 2022, to unitholders of record at the close of business on August ...

July 21, 2022 1 EN

ResearchPool Subscriptions

Get the most out of your insights

Get in touch