BioFuels Journal

Ames, IA - Renewable Energy Group, Inc. (NASDAQ: REGI) announced today the redemption in full of the $100 million Gulf Opportunity Zone (GOZone) bonds ahead of their 2033 maturity date.

The bonds were issued by the Louisiana Public Facilities Authority (LPFA) to help finance construction of the company’s 75-million-gallon renewable hydrocarbon diesel refinery in Geismar, Louisiana.

In connection with the redemption, the company’s subsidiary, REG Geismar, LLC, prepaid all amounts owing under its loan agreement with the LPFA.

The redemption was funded through a drawing on a letter of credit issued to the bond trustee that was fully collateralized with cash prior to the redemption.

“We redeemed the GOZone bonds prior to maturity with restricted cash to reduce our long-term debt and to eliminate costs associated with the bonds,” said Chad Stone, REG Chief Financial Officer.

REG acquired the Geismar biorefinery in June, 2014.

In addition to renewable hydrocarbon diesel, the plant produces renewable naphtha and renewable LPG.

For more information, please contact Anthony Hulen at 703-822-1972 or [email protected]

See Related Websites/Articles:

• Renewable Energy Group

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