Renewable Energy Group, Inc. (REG) (NASDAQ: REGI) has announced the pricing of its upsized offering of US$550 million aggregate principal amount of 5.875% senior secured notes due 2028 (the Notes) in a private placement pursuant to exemptions from the registration requirements of the Securities Act of 1933, as amended. The offering was upsized from the previously announced US$500 million offering amount. The sale of the Notes is scheduled to close on May 20, 2021, subject to satisfaction of customary closing conditions. REG intends to use the net proceeds to finance or refinance, in part or in full, new and/or existing eligible green projects, including the expansion of REG’s Geismar, Louisiana biorefinery.
Latham & Watkins LLP represents the initial purchasers in the offering with a corporate deal team led by Houston partners David Miller and Trevor Lavelle. New York partner Greg Rodgers provided additional guidance in the transaction. The capital markets team included Houston associates Madeleine Neet, Kate Wang, Sarah Dunn, Trevor Bossi, and Joseph Kmetz. Advice was also provided on finance matters by Houston partner Matt Jones, with Houston associates Ben Gelfand, Jack Traylor, and Jessica Sherman; on environmental matters by Los Angeles counsel Josh Marnitz; and on tax matters by Houston partner Jim Cole, with Houston associate Emily Fawcett.