SOUTH DAKOTA SOYBEAN PROCESSORS LLC (SDSYA): debt financing — South Dakota Soybean Processors guarantees $111.35M for new oilseed plant with 35M bushel capacity

SOUTH DAKOTA SOYBEAN PROCESSORS LLC

Company guaranteed obligations of subsidiary High Plains Partners for investment in High Plains Processing oilseed plant near Mitchell, SD.
Facility expected to process approximately 35 million bushels of soybeans and other oilseeds annually.
Company committed to contribute at least $111.35M; $24.06M contributed as of Sept 7, 2023, balance during construction.
High Plains Partners total commitment to the project is at least $192M.

item 1.01 item 2.03

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

SOUTH DAKOTA SOYBEAN PROCESSORS LLC incurred guarantee of $111.35 million with High Plains Partners, LLC.

Instrument: guarantee
Principal: $111.35 million
Counterparty: High Plains Partners, LLC
Event: incurrence

Exact text from the filing

The Company agreed to guarantee certain financial obligations of High Plains Partners, LLC, a South Dakota limited liability company and majority-owned subsidiary of the Company, regarding High Plains Partners’ investment into HPP SD Holdings, LLC, a Delaware limited liability company, the sole purpose of which is to own and operate High Plains Processing, LLC.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SOUTH DAKOTA SOYBEAN PROCESSORS LLC entered into guarantee agreement with High Plains Partners, LLC (effective 2023-09-07).

Action: entry
Counterparty: High Plains Partners, LLC
Effective: 2023-09-07

Exact text from the filing

On September 7, 2023, South Dakota Soybean Processors, LLC (the “Company”) entered into a guarantee agreement regarding an investment in a new oilseed processing plant.

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Source: SEC EDGAR

accession 0001163609-23-000034

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