REG redeems $100 million Gulf Opportunity Zone bonds ahead of 2033 maturity date

In Louisiana, Renewable Energy Group Inc. announced Sept. 7 the redemption in full of the $100 million Gulf Opportunity Zone bonds ahead of their 2033 maturity date. The bonds were issued by the Louisiana Public Facilities Authority to help finance construction of the company’s 75 MMgy renewable hydrocarbon diesel refinery in Geismar, Louisiana.

In connection with the redemption, the company’s subsidiary, REG Geismar LLC, prepaid all amounts owing under its loan agreement with the LPFA. The redemption was funded through a drawing on a letter of credit issued to the bond trustee that was fully collateralized with cash prior to the redemption.