8-K
filed April 1, 2024, 7:59 PM ET
ticker GEVO
CIK 0001392380
debt
confidence high
sentiment positive
materiality 0.55
Gevo, Inc. (GEVO): debt financing — Gevo subsidiary remarkets $68.2M green bonds at 3.875%, expects positive cash flow contribution
Gevo, Inc.
- Gevo NW Iowa RNG remarketed $68.2M Series 2021 Green Bonds; new rate 3.875% vs. prior 1.5%.
- New term rate period runs through March 31, 2026; secured by $69.6M letter of credit.
- Gevo's reimbursement obligations on the LOC are fully cash-collateralized.
- Company expects interest income on cash collateral to exceed bond interest expense, boosting cash flows over next 12 months.
- Remarketing sets stage for potential future non-recourse refinancing of the bonds.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.7
Gevo, Inc. amended senior notes with Citibank, N.A..
- Instrument
- senior notes
- Counterparty
- Citibank, N.A.
- Event
- amendment
Exact text from the filing
the Original Indenture was amended by a First Supplemental Indenture dated as of April 1, 2024
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Gevo, Inc. entered into Reimbursement Agreement with Citibank, N.A. (effective 2024-04-01).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Citibank, N.A.
- Effective
- 2024-04-01
Exact text from the filing
The First Supplemental Indenture, the Reimbursement Agreement and the First Supplemental Bond Financing Agreement were all executed and delivered on April 1, 2024 in connection with the remarketing and conversion of the Bonds
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Gevo, Inc. amended First Supplemental Indenture with Citibank, N.A., as trustee (effective 2024-04-01).
- Action
- amendment
- Agreement
- notes offering
- Counterparty
- Citibank, N.A., as trustee
- Effective
- 2024-04-01
Exact text from the filing
the Original Indenture was amended by a First Supplemental Indenture dated as of April 1, 2024 (the “First Supplemental Indenture,” and together with the Original Indenture, the “Indenture”) between the Issuer and the Trustee
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Gevo, Inc. amended First Supplemental Bond Financing Agreement with Iowa Finance Authority valued at $68,155,000 (effective 2024-04-01).
- Action
- amendment
- Counterparty
- Iowa Finance Authority
- Value
- $68,155,000
- Effective
- 2024-04-01
Exact text from the filing
the Original Bond Financing Agreement was amended by a First Supplemental Bond Financing Agreement dated as of April 1, 2024 (the “First Supplemental Bond Financing Agreement,” and together with the Original Bond Financing Agreement, the “Bond Financing Agreement”) between the Issuer and the Company
View on SEC.gov
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