Green Plains Partners LP (GPP) Files $200M IPO (GPRE)

Green Plains Partners LP (NASDAQ: GPP) filed to offer $200 million in units in in initial offering with the SEC. The company plans to list on the NASDAQ under the ticker "GPP."

Barclays and BofA Merrill Lynch are the managers of the offering.

Green Plains Partners LP is a fee-based Delaware limited partnership recently formed by parent, Green Plains Inc. (NASDAQ: GPRE), to own, operate, develop and acquire ethanol and fuel storage tanks, terminals, transportation assets and other related assets and businesses. Green Plains Partners LP expectS to be its parent’s primary vehicle to own, operate and expand the downstream logistics assets required to support its approximately 1.2 billion gallons per year, or bgy, ethanol marketing and distribution business because our assets are the principal method of storing and delivering the ethanol our parent produces for its customers. The firm's parent believes that this vertical integration will enable it to further expand its downstream logistics activities and better capture the economic value of these operations within the ethanol value chain. The ethanol that our parent produces is fuel grade, principally from the starch extracted from corn, and is primarily used in the blending of gasoline. Ethanol currently comprises approximately 10% of the U.S. gasoline market and is an economical source of octane and oxygenate for blending into the fuel supply. The firm generates a substantial portion of our revenues by charging fixed fees to Green Plains Trade for receiving, storing, transferring and transporting ethanol and other fuels. They do not take ownership of, or receive any payments based on the value of, the ethanol or fuel we handle; as a result, they will not have any direct exposure to fluctuations in commodity prices.

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