Gevo (GEVO) has provided an update.
The Iowa Finance Authority successfully converted and remarketed $68,155,000 worth of Green Bonds for Gevo NW Iowa RNG, LLC, which will now bear interest in a new term rate. Initially issued in April 2021, these bonds fund a renewable natural gas project in Northwest Iowa, including the development of a biogas facility and related infrastructure. Repayment is secured through a direct pay letter of credit from Citibank, ensuring principal and interest are covered. This strategic financial maneuver is expected to support the company’s environmental goals and contribute to the sustainable energy landscape.
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