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REGI > SEC Filings for REGI > Form 8-K on 10-Dec-2013All Recent SEC Filings

Show all filings for RENEWABLE ENERGY GROUP, INC.



Entry into a Material Definitive Agreement, Creation of a Direct Fin

Item 1.01. Entry into a Material Definitive Agreement.

On December 4, 2013, REG Newton, LLC ("REG Newton"), a wholly-owned subsidiary of Renewable Energy Group, Inc. (the "Company"), entered into an Amended and Restated Master Loan Agreement, effective December 1, 2013 (the "Amended and Restated Agreement"), with AgStar Financial Services, PCA ("AgStar"), which replaced the existing Master Loan Agreement, dated March 8, 2010, between REG Newton and AgStar, as amended and supplemented (the "Original Agreement"). The Amended and Restated Agreement extends the maturity of the existing term loan under the Original Agreement by 5 years until December 1, 2018 and increases the term loan amount by $5 million to a total of $23,142,157.33. Borrowings under the Amended and Restated Agreement shall bear interest at a rate equal to the LIBOR Rate plus 4.00% per annum, which is a reduction of 1% per annum compared to the Original Agreement. The interest rate may also be converted to a fixed rate loan in the future at a rate to be mutually agreed upon by REG Newton and AgStar. The Amended and Restated Agreement will continue to be secured by assets of REG Newton pursuant to a mortgage and security agreement executed in connection with the Original Agreement and contains customary representations, covenants and default terms similar to the Original Agreement.

Item 2.03. Creation of a Direct Financial Obligation.

The description of the obligations of the Company included in Item 1.01 above is incorporated by reference herein.

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