Business Context and Reporting Period
Company: Green Plains Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: November 26, 2014
Event: Entry into a Material Definitive Agreement regarding a credit facility amendment.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or general liquidity metrics. It specifically addresses a change in debt capacity:
- Revolving Credit Facility Increase: Principal amount increased from $130 million to $150 million.
- Borrowing Base Modification: Definitions updated to include certain finished inventories.
- Lender: PNC Bank, National Association (as Lender and Agent).
Material Changes Versus Prior Period
The primary material change is the execution of the Third Amended and Restated Revolving Credit and Security Agreement on November 26, 2014. This agreement supersedes the prior facility dated July 30, 2009 (as previously amended). The filing does not provide comparative financial performance data against prior periods.
Guidance, Outlook, and Risks
Management Commentary: The filing notes that the summary of modifications is not intended to be inclusive of all changes and refers to the attached exhibit for full details.
Outlook/Guidance: No forward-looking financial guidance or outlook is provided in this document.
Risks/Contingencies: No specific risks or contingencies are detailed beyond the creation of the direct financial obligation under the amended credit agreement.
Important Facts for Investor Verification
- Verify the specific terms of the "finished inventories" included in the new borrowing base definition.
- Review the full text of the Third Amended and Restated Revolving Credit and Security Agreement (Exhibit 10.1) for covenants and interest rate details not summarized in the 8-K.
- Confirm the impact of the $20 million increase in credit capacity on the company's overall leverage ratios using the most recent 10-Q or 10-K.