-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, C7NsVYwt+lZ+r/QvUOTKRZsOLFWwG0qP6LJEKfWvK4XLzjN7rJffuXnDLfDK1bkv gYPm5yIWIfiZGxUtA+aG6A== 0001104659-08-012417.txt : 20080222 0001104659-08-012417.hdr.sgml : 20080222 20080222170250 ACCESSION NUMBER: 0001104659-08-012417 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080220 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant FILED AS OF DATE: 20080222 DATE AS OF CHANGE: 20080222 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOUTH DAKOTA SOYBEAN PROCESSORS LLC CENTRAL INDEX KEY: 0001163609 STANDARD INDUSTRIAL CLASSIFICATION: AGRICULTURE SERVICES [0700] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-50253 FILM NUMBER: 08637199 BUSINESS ADDRESS: STREET 1: 100 CASPIAN AVE. STREET 2: P.O. BOX 500 CITY: VOLGA STATE: SD ZIP: 57071 BUSINESS PHONE: 6056279240 MAIL ADDRESS: STREET 1: 100 CASPIAN AVE. STREET 2: P.O. BOX 500 CITY: VOLGA STATE: SD ZIP: 57071 FORMER COMPANY: FORMER CONFORMED NAME: SOYBEAN PROCESSORS LLC DATE OF NAME CHANGE: 20011213 8-K 1 a08-6341_18k.htm 8-K

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (date of earliest event reported): February 20, 2008

 

South Dakota Soybean Processors, LLC

(Exact name of Registrant as specified in its charter)

 

South Dakota

 

000-50253

 

46-042968

(State or other jurisdiction of incorporation)

 

(Commission File Number)

 

(I.R.S. Employer Identification
No.)

 

100 Caspian Ave. PO Box 500
Volga, South Dakota

 


57071

(Address of principal executive
offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: (605) 647-9240

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 


 

Item 1.01                                             Entry into a Material Definitive Agreement.

 

On February 20, 2008, the registrant entered into an amendment of its Master Loan Agreement with its lender, CoBank, ACB. See Item 2.03, the text of which is herein incorporated by reference.

 

Item 2.03.                                          Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

 

On February 20, 2008, the registrant entered into an amendment of its Master Loan Agreement with its lender, CoBank, ACB. Under the amendment, the credit line on the revolving working capital loan is increased from $38 million to $50 million until July 1, 2008. On July 2, 2008, however, the credit line reverts to $28 million until the loan’s maturity on October 1, 2008. In addition, the amendment changes the working capital covenant from a requirement of not less than $6.5 million to a requirement of not less than $9.0 million. All other terms and conditions under the Master Loan Agreement and subsequent amendments remain the same following this amendment. The primary purpose of the revolving working capital loan is to finance the registrant’s inventory and receivables. The amendment will be filed as an exhibit in the registrant’s next periodic report.

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

SOUTH DAKOTA SOYBEAN PROCESSORS,
LLC

 

 

 

 

 

 

Dated:  February 22, 2008

By:

/s/ Rodney Christianson

 

 

Rodney Christianson, Chief Executive
Officer

 

2

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