Green Plains Plans Offering Of $75 Mln Of Convertible Senior Notes

(RTTNews) - Green Plains Renewable Energy, Inc. (GPRE) said Monday that it plans to offer to sell $75 million aggregate principal amount of Convertible Senior Notes due 2018.

The company expects to grant the initial purchaser of the notes an option to purchase up to an additional $15 million aggregate principal amount of the notes to cover overallotments.

The company said it plans to use the net proceeds of the offering for general corporate purposes. While the company does not have any binding commitments or definitive agreements to enter into potential acquisitions, it may use a portion of the net proceeds to acquire or invest in additional facilities, assets or technologies that it believes further its growth strategy. In addition, the company may also use a portion of the net proceeds to repurchase some of its outstanding 5.75% Convertible Senior Notes due 2015 through open market repurchases, privately negotiated transactions or otherwise.