Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
SOUTHWEST IOWA RENEWABLE ENERGY, LLC amended credit facility of reduce the maximum principal amount from $18,750,000 to $11,250,000; provide for a single principal payment of $3,750,00 with Farm Credit Services of America, FLCA; Farm Credit Services of America, PCA; CoBank, ACB at decrease the Daily Simple SOFR Rate Spread from 3.25% to 3.15% per annum; decrea maturing maturity date which remains November 15, 2024; extend the maturity date from February 1, 2023 to April 1, 2024; incorporate a one-year renewal option period exe.
- Instrument
- credit facility
- Principal
- reduce the maximum principal amount from $18,750,000 to $11,250,000; provide for a single principal payment of $3,750,00
- Counterparty
- Farm Credit Services of America, FLCA; Farm Credit Services of America, PCA; CoBank, ACB
- Rate
- decrease the Daily Simple SOFR Rate Spread from 3.25% to 3.15% per annum; decrea
- Maturity
- maturity date which remains November 15, 2024; extend the maturity date from February 1, 2023 to April 1, 2024; incorporate a one-year renewal option period exe
- Event
- amendment
Exact text from the filing
Effective March 28, 2023, Southwest Iowa Renewable Energy, LLC (the “ Company ”) entered into Amendment No. 2 (the “ Amendment ”) to the First Amended and Restated Credit Agreement with Farm Credit Services of America, FLCA (“ FLCA ”), Farm Credit Services of America, PCA (“ PCA ”) and CoBank, ACB (“ CoBank ”) to amend the Company’s existing Credit Agreement dated as of July 18, 2022, as amended by Amendment No. 1 dated as of September 21, 2022 (the “ Credit Agreement ”). The Amendment amended and restated the Company’s: • Third Amended and Restated Term Note dated July 18, 2022 (the “ Existing Term Note ”) in its entirety, replacing it with the Fourth Amended and Restated Term Note dated March 28, 2023 (the “ Restated Term Note ”) to make the following modifications: - reduce the maximum principal amount from $18,750,000 to $11,250,000; - decrease the Daily Simple SOFR Rate Spread from 3.25% to 3.15% per annum; and - provide for a single principal payment of $3,750,000 due and payable
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
SOUTHWEST IOWA RENEWABLE ENERGY, LLC amended Amendment No. 2 to the First Amended and Restated Credit Agreement with Farm Credit Services of America, FLCA; Farm Credit Services of America, PCA; CoBank, ACB valued at Amendment to credit agreement, reducing term note maximum principal from $18,750,000 to $11,250,000, (effective 2023-03-28).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Farm Credit Services of America, FLCA; Farm Credit Services of America, PCA; CoBank, ACB
- Value
- Amendment to credit agreement, reducing term note maximum principal from $18,750,000 to $11,250,000,
- Effective
- 2023-03-28
Exact text from the filing
Effective March 28, 2023, Southwest Iowa Renewable Energy, LLC (the “ Company ”) entered into Amendment No. 2 (the “ Amendment ”) to the First Amended and Restated Credit Agreement with Farm Credit Services of America, FLCA (“ FLCA ”), Farm Credit Services of America, PCA (“ PCA ”) and CoBank, ACB (“ CoBank ”) to amend the Company’s existing Credit Agreement dated as of July 18, 2022, as amended by Amendment No. 1 dated as of September 21, 2022 (the “ Credit Agreement ”).
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