secwatch.observer — SEC 8-K summary
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Issuer:     SOUTH DAKOTA SOYBEAN PROCESSORS LLC (SDSYA)
CIK:        0001163609
Form:       8-K
Filed at:   2023-09-22T23:59:59+00:00
Accession:  0001163609-23-000041
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163609/000116360923000041/0001163609-23-000041-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163609/000116360923000041/sdsp-20230920.htm
  HTML page:      https://secwatch.observer/filing/0001163609-23-000041

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