Company: SDSYA
Filing Date: 2025-03-19
Form Type: 8-K
Source: 0001163609-25-000007
Chunk: 1

Company: SOUTH DAKOTA SOYBEAN PROCESSORS LLC
Filing Date: 2025-03-19
Form: 8-K
Item: Item 2.03
Chunk 1
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Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On March 17, 2025, we entered into the Restated Credit Agreement with our lender, CoBank, ACB. The Restated Credit Agreement includes several key changes. The principal available on the seasonal loan decreases from $85 million to $70 million, and the maturity date is extended to December 1, 2025. The revolving term loan limit increases from $12 million to $65 million, and starting on March 20, 2025, the amount available for borrowing will be reduced by $3.25 million every six months until the loan matures on March 20, 2028. Additionally, the loan and note payable for our investment in our subsidiary, High Plains Partners, LLC, the proceeds of which were contributed for the construction of the Mitchell facility, has been consolidated into the revolving term loan.

The Restated Credit Agreement also revises certain standard financial covenants, including the maintenance of specific financial ratios, limitations on certain investments, and restrictions on distributions.

All other material items and conditions under the Credit Agreement dated September 20, 2023, and subsequent amendments to such agreement, remain the same following the Restated Credit Agreement. The Restated Credit Agreement will be filed as an exhibit in our next periodic report.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

  SOUTH DAKOTA SOYBEAN PROCESSORS, LLC  
  /s/ Mark Hyde                         
  Mark Hyde, Chief Financial Officer