Company: SDSYA
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001163609-25-000032
Chunk: 15

Company: SOUTH DAKOTA SOYBEAN PROCESSORS LLC
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 15
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 beginning six months after the outside completion date as defined within the agreement. The quarterly principal payments will increase each year by $1.0 million on the anniversary date. The delayed-draw term loan matures on December 31, 2029. Interest accrues under the agreement at a rate equal to (i) the daily Secured Overnight Financing Rate, plus (ii) a specified applicable margin. The interest rate as of September 30, 2025 was 7.57%. The Company pays a 0.50% annual commitment fee on any funds not borrowed. There were approximately $82.7 million available to borrow on the delayed draw term loan as of September 30, 2025.The revolving term loan provides for a maximum borrowing of $40.0 million. The revolving term loan matures on December 31, 2029. Interest accrues under the agreement at a rate equal to (i) the daily Secured Overnight Financing Rate, plus (ii) a specified applicable margin. The interest rate as of September 30, 2025 was 7.27%. The Company pays a 0.50% annual commitment fee on any funds not borrowed. There were $40.0 million in remaining commitments available to borrow on the revolving term loan as of September 30, 2025.Under the agreements, the Company is subject to compliance with standard financial covenants and the maintenance of certain financial ratios that limits distributions.Effective March 2025, the State of South Dakota Department of Transportation agreed to loan the Davison Regional Railroad Authority $12.6 million for purposes of making improvements to the railway infrastructure at the operating facility near Mitchell, South Dakota. In consideration of this secured loan, the Company agreed to provide a guarantee to the State of South Dakota Department of Transportation for the full amount of the loan, plus interest. This guarantee was converted into a direct obligation of the Company's in May 2025, when the Company received the entire loan proceeds and assumed responsibility for paying the annual principal and interest payments. The note bears interest at a fixed rate of 2% per annum. Beginning in October 2026, the Company will make annual principal 

12

South Dakota Soybean Processors, LLCNotes to Condensed Consolidated Financial Statements

and interest payments of $987,500. These payments will continue through October 1, 2032, at which time a final balloon payment will be due for the remaining unpaid principal and any accrued interest.The following are minimum principal payments on long-term debt