Green Plains Renewable Energy, Inc. Prices Offering of $75 Million
October 29 2010
5.75% Convertible Senior Notes Due 2015
Green Plains Renewable Energy, Inc. (NASDAQ: GPRE), of which NTR plc is a shareholder, announced today the pricing of its offering of $75 million aggregate principal amount of convertible senior notes due 2015 (the “notes”). The notes will be offered and sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), by the initial purchasers of the notes. The Company has also granted the initial purchasers of the notes a 30-day option to purchase up to an additional $15 million aggregate principal amount of notes, solely to cover over-allotments. The notes will mature on 1st November 2015 and will bear interest at a fixed rate of 5.75% per year.
The Company intends to use the net proceeds of this offering for general corporate purposes. Although the Company does not currently have any binding commitments or definitive agreements to enter into potential acquisitions, it may also use a portion of the net proceeds to acquire or invest in additional facilities, assets or technologies consistent with its growth strategy. The Company does not intend to use any proceeds from this offering to fund the Global Ethanol, LLC acquisition announced on 28th September 2010.
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Notes to Editors
About NTR plc
NTR plc, the international renewable energy group, builds and runs green energy and resource-sustaining businesses. Founded in 1978, NTR has evolved from being a developer and operator of infrastructure in Ireland to an international developer and operator of renewable energy (wind, solar and ethanol) and sustainable waste management businesses in the USA and Europe. The Group employs over 2,000 people.
www.ntrplc.com
About Green Plains Renewable Energy, Inc.
Green Plains Renewable Energy, Inc. (NASDAQ: GPRE) is North America’s fourth largest ethanol producer, operating a total of eight ethanol plants in Indiana, Iowa, Michigan, Nebraska and Tennessee with annual expected operating capacity totaling approximately 657 million gallons. Green Plains also markets and distributes ethanol for four third-party ethanol producers with annual expected operating capacity totaling approximately 360 million gallons. Green Plains owns 51% of Blendstar, LLC, a biofuel terminal operator which operates nine blending or terminaling facilities with approximately 495 million gallons per year of total throughput capacity in seven states in the south central United States. Green Plains operates grain storage facilities and complementary agronomy and petroleum businesses in Iowa, southern Minnesota and western Tennessee.
Issued on behalf of NTR plc by:
Heneghan PR, Rachel Watchorn / Nigel Heneghan
Tel: + 353 1 660 7395 / + 353 86 814 3931