Renewable Energy ups loan commitments to $150 million, extends to 2021

By Susanna Moon

Chicago, Oct. 4 – Renewable Energy Group, Inc.’s wholly owned subsidiaries REG Services Group, LLC and REG Marketing & Logistics, LLC raised the commitment limits of their credit agreement to $150 million.

The revolving credit agreement also was extended until Sept. 30, 2021.

The companies entered into an amendment to the loan terms last Friday with Wells Fargo Capital Finance, LLC as the agent and Fifth Third Bank as a new lender, according to an 8-K filing with the Securities and Exchange Commission.

Wells Fargo Capital Finance, LLC and Fifth Third Bank are the lead arrangers and bookrunners.

The maximum loan commitment was increased from $60 million.

Interest on the revolving loans will be one-month Libor plus 175 basis points to 225 bps.

Ames, Iowa-based Renewable Energy is a biodiesel producer.

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