Green Plains completed a $500 million senior secured term loan due 2023.

The company will use the proceeds to refinance approximately $405 million of existing debt of its wholly owned subsidiaries, Green Plains Processing and Fleischmann’s Vinegar Company, pay associated fees and expenses and for general corporate purposes.

BNP Paribas Securities served as administrative agent and collateral agent.

The term loan is guaranteed by the company and predominantly all of its subsidiaries, not including Green Plains Partners and certain other entities, and secured by substantially all of the assets, including 17 ethanol production facilities with annual production capacity of approximately 1.5 billion gallons as well as the vinegar production facilities.

Omaha, NB-based Green Plains is a diversified commodity-processing business with operations related to ethanol production, grain handling and storage, cattle feedlots, food ingredients and commodity marketing and logistics services.