Green Plains Partners raises $150M in IPO

In Nebraska, Green Plains Partners LP announced the pricing of its initial public offering of 10,000,000 common units representing limited partner interests at a public offering price of $15.00 per common unit. The common units are expected to begin trading on the Nasdaq Global Market under the ticker symbol “GPP” on June 26, 2015. In addition, Green Plains Partners has granted the underwriters an option to purchase up to an additional 1,500,000 common units at the initial public offering price. The offering is expected to close on July 1, 2015, subject to the satisfaction of customary closing conditions.

The common units being offered to the public represent an approximate 30.8% limited partner interest in Green Plains Partners, or an approximate 35.5% limited partner interest if the underwriters exercise, in full, their option to purchase additional common units. Green Plains Inc. (Nasdaq:GPRE) and certain of its subsidiaries will own the remaining limited partner interest in Green Plains Partners as well as its 2.0% general partner interest and its Incentive Distribution Rights. Green Plains Partners intends to use the proceeds from this offering to make a distribution to Green Plains Inc., to pay origination fees under a new revolving credit facility, and for general partnership purposes.

Green Plains Partners LP was formed by its parent, Green Plains Inc., to provide ethanol and fuel storage, terminal and transportation services by owning, operating, developing and acquiring ethanol and fuel storage tanks, terminals, transportation assets and other related assets and businesses.

Barclays, BofA Merrill Lynch, Credit Suisse, Macquarie Capital and RBC Capital Markets are acting as joint book-running managers for the offering, and Baird, Raymond James, Stephens Inc. and Stifel are acting as co-managers for the offering.

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