Debt (Tables)

12 Months Ended

Dec. 31, 2014



	December 31,
	2014		2013
Green Plains Bluffton:
$70.0 million term loan	$	-	$	26,621
$20.0 million revolving term loan		-		15,000
$22.0 million revenue bond		-		15,780
Green Plains Central City:
$55.0 million term loan		-		33,100
$30.5 million revolving term loan		-		17,739
Equipment financing loan		-		36
Green Plains Fairmont and Green Plains Wood River:
$62.5 million term loan		40,000		50,000
$27.0 million term loan		-		26,756
Tax increment financing bond		3,589		3,626
Capital leases on grain facilities		9,994		9,994
Capital lease on equipment and other		4,192		5,489
Green Plains Holdings II:
$46.8 million term loans		29,510		15,914
$20.0 million revolving term loan		6,000		31,960
Green Plains Obion:
$60.0 million term loan		-		3,879
$37.4 million revolving term loan		27,400		28,400
Equipment financing loan		-		126
Economic development grant		1,156		1,245
Green Plains Ord:
$25.0 million term loan		-		15,143
$13.0 million revolving term loan		-		2,151
Green Plains Otter Tail:
$30.3 million term loan		-		17,960
$19.2 million note payable		-		19,151
Equipment financing loan		11		-
Green Plains Processing:
$225.0 million term loan		213,775		-
Green Plains Shenandoah:
$17.0 million revolving term loan		-		9,000
Green Plains Superior:
$40.0 million term loan		-		9,750
$15.6 million revolving term loan		15,025		8,000
Equipment financing loan		-		18
Corporate:
$90.0 million convertible notes		-		90,000
$120.0 million convertible notes		100,845		96,653
Capital lease		-		188
Other		11,408		10,000
Total long-term debt		462,905		563,679
Less: current portion of long-term debt		(63,465)		(82,933)
Long-term debt	$	399,440	$	480,746


Maintenance of working capital, including unused portion of revolver, as follows:
•	Green Plains Holdings II	$15.0 million
•	Green Plains Obion	$9.0 million
•	Green Plains Superior	$3.0 million
Maintenance of net worth as follows:
•	Green Plains Holdings II	$100.0 million plus 25% of net income before tax
•	Green Plains Obion	$95.0 million plus 25% of net income before tax
•	Green Plains Superior	$33.0 million
Maintenance of annual fixed charge coverage ratios:
•	Green Plains Processing	1.25 to 1.00
Maintenance of annual debt service coverage ratios:
•	Green Plains Fairmont and Green Plains Wood River	2.25 to 1.00
•	Green Plains Holdings II	1.25 to 1.00
•	Green Plains Obion	1.25 to 1.00
•	Green Plains Superior	1.00 to 1.00
Maintenance of annual leverage ratio:
•	Green Plains Fairmont and Green Plains Wood River	3.25 to 1.00 (decreasing to 2.00 to 1.00 in 2015)
•	Green Plains Processing	4.00 to 1.00 (decreasing to 3.25 to 1.00 in 2019)
Annual capital expenditures will be limited as follows:
•	Green Plains Fairmont and Green Plains Wood River	$2.0 million growth and $4.0 million maintenance


•	Green Plains Fairmont	Up to amounts equal to permitted tax
	and Green Plains Wood River	distributions, as defined in the loan agreement
•	Green Plains Holdings II	Up to 40% of net profit before tax, and
		unlimited if working capital is greater than or
		equal to $20.0 million
•	Green Plains Obion	Up to 40% of net profit before tax, and
		unlimited if working capital is greater than or
		equal to $15.0 million
•	Green Plains Processing	Amounts may be distributed after quarterly free
		cash flow payment is made, subject to certain
		limitations, as defined in the loan agreement
•	Green Plains Superior	Up to 40% of net profit before tax, and
		unlimited after free cash flow payment is made


•	Green Plains Fairmont and
	Green Plains Wood River	$4.0 million
•	Green Plains Processing	$54.0 million annually, $27.0 million for 2014