---
schema_version: "secwatch.filing_event.v1"
accession: "0001575872-23-001519"
form_type: "8-K"
ticker: null
cik: "0000748790"
company_name: "Global Clean Energy Holdings, Inc."
filed_at: "2023-09-29T23:59:59+00:00"
generated_at: "2026-06-10T07:15:09.299670+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Global Clean Energy subsidiary issues $15M secured promissory note to affiliate at 15% interest

## Summary
- 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.

## SEC filing metadata
- accession: 0001575872-23-001519
- form_type: 8-K
- cik: 0000748790
- company_name: Global Clean Energy Holdings, Inc.
- filed_at: 2023-09-29T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/748790/000157587223001519/0001575872-23-001519-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/748790/000157587223001519/gceh-20230927.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001575872-23-001519
- JSON: https://secwatch.observer/filing/0001575872-23-001519.json
- Plain text: https://secwatch.observer/filing/0001575872-23-001519.txt

## Key facts
- Debt Financings
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/748790/000157587223001519/0001575872-23-001519-index.htm
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/748790/000157587223001519/0001575872-23-001519-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/748790/000157587223001519/0001575872-23-001519-index.htm

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