---
schema_version: "secwatch.filing_event.v1"
accession: "0001163609-23-000041"
form_type: "8-K"
ticker: "SDSYA"
cik: "0001163609"
company_name: "SOUTH DAKOTA SOYBEAN PROCESSORS LLC"
filed_at: "2023-09-22T23:59:59+00:00"
generated_at: "2026-06-10T09:32:17.366123+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# South Dakota Soybean Processors enters amended credit agreement with CoBank for new $90M term note

## Summary
- Entered Amended and Restated Credit Agreement with CoBank on September 20, 2023, amending prior 2016 agreement and creating a new multiple advance term note.
- New Advance Term Note allows borrowing up to $90 million until August 1, 2024, for investment in High Plains Partners, LLC for a new multi-seed processing facility in Mitchell, SD.
- Minimum working capital covenant increased from $15 million to $17 million; semi-annual repayments on $12 million revolving note reduced from $2 million to $600,000.
- Debt service coverage ratio remains at 1.2 to 1 with revised definition to accommodate higher annual debt payments.

## SEC filing metadata
- accession: 0001163609-23-000041
- form_type: 8-K
- ticker: SDSYA
- cik: 0001163609
- company_name: SOUTH DAKOTA SOYBEAN PROCESSORS LLC
- filed_at: 2023-09-22T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1163609/000116360923000041/0001163609-23-000041-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1163609/000116360923000041/sdsp-20230920.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001163609-23-000041
- JSON: https://secwatch.observer/filing/0001163609-23-000041.json
- Plain text: https://secwatch.observer/filing/0001163609-23-000041.txt

## Key facts
- Debt Financings
  SOUTH DAKOTA SOYBEAN PROCESSORS LLC incurred credit facility of up to $90 million with CoBank, ACB at variable rate option set daily by CoBank; fixed rate option available maturing semi-annual payments of $4.5 million begin October 20, 2024; borrowing available until August 1, 2024.
  - Instrument: credit facility
  - Principal: up to $90 million
  - Counterparty: CoBank, ACB
  - Rate: variable rate option set daily by CoBank; fixed rate option available
  - Maturity: semi-annual payments of $4.5 million begin October 20, 2024; borrowing available until August 1, 2024
  - Event: incurrence
  source text: Under the Advance Term Note, we may borrow up to $90 million until August 1, 2024, the proceeds of which are to used to finance our investment in High Plains Partners, LLC.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1163609/000116360923000041/0001163609-23-000041-index.htm
- Debt Financings
  SOUTH DAKOTA SOYBEAN PROCESSORS LLC amended revolving credit of $12 million with CoBank, ACB at variable rate option set daily by CoBank; fixed rate option available maturing semi-annual repayments decrease from $2 million to $600,000 starting September 20, 2023; under Restated Revolving Note.
  - Instrument: revolving credit
  - Principal: $12 million
  - Counterparty: CoBank, ACB
  - Rate: variable rate option set daily by CoBank; fixed rate option available
  - Maturity: semi-annual repayments decrease from $2 million to $600,000 starting September 20, 2023; under Restated Revolving Note
  - Event: amendment
  source text: Under the Restated Revolving Note, the semi-annual repayments on our $12 million loan decrease from $2 million to $600,000 starting on September 20, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1163609/000116360923000041/0001163609-23-000041-index.htm
- Material Agreements
  SOUTH DAKOTA SOYBEAN PROCESSORS LLC amended Amended and Restated Credit Agreement with CoBank, ACB (effective 2023-09-20).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: CoBank, ACB
  - Effective: 2023-09-20
  source text: On September 20, 2023, we entered into an Amended and Restated Credit Agreement ("Restated Credit Agreement") with our lender, CoBank, ACB of Greenwood Village, Colorado, which amends and restates our existing Credit Agreement dated December 28, 2016
  evidence_url: https://www.sec.gov/Archives/edgar/data/1163609/000116360923000041/0001163609-23-000041-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.