Global Clean Energy Holdings, Inc.: debt financing — Global Clean Energy subsidiary issues $15M secured promissory note to affiliate at 15% interest

Global Clean Energy Holdings, Inc.

Sustainable Oils, Inc. issued a $15M secured promissory note to BKRF OCB, LLC (affiliate) at 15% annual interest, due August 22, 2024.
SusOils granted a blanket security interest in all assets and a $15M guaranty under the parent's senior credit agreement.
Proceeds include $4.182M new funding for a Montana bond; if bond not issued by Sept 29, 2023, $4.182M must be returned.
Note is secured by a pledge of SusOils' equity from Global Clean Energy Holdings and a patent security agreement.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Global Clean Energy Holdings, Inc. incurred loan of initial principal amount of $15 million with BKRF OCB, LLC at 15% per annum maturing August 22, 2024.

Instrument: loan
Principal: initial principal amount of $15 million
Counterparty: BKRF OCB, LLC
Rate: 15% per annum
Maturity: August 22, 2024
Event: incurrence

Exact text from the filing

SusOils executed and delivered to BKRF a secured intercompany promissory note, dated September 22, 2023, in the initial principal amount of $15 million (the “Intercompany Note”), which provides for repayment of the amounts borrowed from BKRF under the Intercompany Note plus interest accruing at 15% per annum on or before August 22, 2024.

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Global Clean Energy Holdings, Inc. incurred guarantee of up to $15 million with BKRF OCB, LLC.

Instrument: guarantee
Principal: up to $15 million
Counterparty: BKRF OCB, LLC
Event: incurrence

Exact text from the filing

guaranty agreement, dated September 22, 2023 (the “Guaranty”), pursuant to which SusOils has agreed to guaranty up to $15 million that may be owned under the Credit Agreement

View on SEC.gov

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

Global Clean Energy Holdings, Inc. entered into Secured Intercompany Promissory Note with BKRF OCB, LLC valued at $15,000,000 (effective 2023-09-22).

Action: entry
Agreement: credit facility
Counterparty: BKRF OCB, LLC
Value: $15,000,000
Effective: 2023-09-22

Exact text from the filing

SusOils executed and delivered to BKRF a secured intercompany promissory note, dated September 22, 2023, in the initial principal amount of $15 million (the “Intercompany Note”), which provides for repayment of the amounts borrowed from BKRF under the Intercompany Note plus interest accruing at 15% per annum on or before August 22, 2024.

View on SEC.gov

Browse all debt financings →

Source: SEC EDGAR

accession 0001575872-23-001519

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.