Southwest Iowa Renewable Energy, LLC Enters into A Letter Agreement with Farm Credit Services of America, FLCA, Farm Credit Services of America, PCA and CoBank, ACB for Second Amended and Restated Revolving Credit Note
February 07, 2022 at 01:45 pm
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Southwest Iowa Renewable Energy, LLC announced that effective February 1, 2022, Southwest Iowa Renewable Energy, LLC (the Company) entered into a letter agreement with Farm Credit Services of America, FLCA (FLCA), Farm Credit Services of America, PCA (PCA) and CoBank, ACB (CoBank) which amended the Company's Second Amended and Restated Revolving Credit Note dated as of October 29, 2021 (the Existing Revolving Credit Note) to extend the maturity date of the Existing Revolving Credit Note from February 1, 2022 to March 1, 2022. Except as set forth in the letter agreement, all other terms of the Existing Revolving Credit Note remain in full force and effect.
Southwest Iowa Renewable Energy, LLC is engaged in the production of ethanol. The Company sells its ethanol, distillers grains, corn condensed distillers soluble, distillers corn oil and carbon dioxide (CO2) in the continental United States, Mexico and the Pacific Rim. Its production facility (the Facility) is located in Pottawattamie County in southwestern Iowa, south of Council Bluffs. The principal purchasers of ethanol are wholesale gasoline marketers or blenders. The Company produces approximately 123.3 million and 127.0 million gallons of ethanol. It produces two forms of distillers grains, namely wet distillers grains with solubles (WDGS) and dried distillers grains with solubles (DDGS). The Company's system separates corn oil from the post-fermentation syrup stream as it leaves the evaporators of the ethanol plant. The corn oil is then routed to storage tanks, and the remaining concentrated syrup is routed to the plantâs syrup tank.
Southwest Iowa Renewable Energy, LLC Enters into A Letter Agreement with Farm Credit Services of America, FLCA, Farm Credit Services of America, PCA and CoBank, ACB for Second Amended and Restated Revolving Credit Note
SOUTHWEST IOWA RENEWABLE ENERGY, LLC 
