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SDSYA trims credit line, eases covenant and extends maturity

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

South Dakota Soybean Processors, LLC entered into an Amended and Restated Credit Agreement with its lender, CoBank, ACB, replacing its prior credit agreement dated March 17, 2025. Under the new terms, the principal available under the company’s seasonal loan decreases from $70 million to $20 million, while the maturity date is extended to December 1, 2026. The agreement also lowers the company’s unconsolidated working capital requirement from $14 million to $10 million, easing this financial covenant. All other material terms from the prior credit agreement and its amendments remain in place, and the full Restated Credit Agreement will be included as an exhibit in the company’s next periodic report.

Positive

  • None.

Negative

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Insights

Credit line shrinks sharply, tenor extended, covenant eased.

South Dakota Soybean Processors has amended and restated its credit agreement with CoBank, ACB. The seasonal loan commitment falls from $70 million to $20 million, which significantly reduces committed short-term borrowing capacity. At the same time, the maturity is pushed out to December 1, 2026, giving more time before the facility comes due.

The unconsolidated working capital requirement is reduced from $14 million to $10 million, loosening that particular covenant. All other material terms from the March 17, 2025 credit agreement and its amendments are stated to remain unchanged, so the main structural shifts are the smaller seasonal line, the extended maturity, and the lower working capital threshold.

Actual effects will depend on how much seasonal funding the company typically draws versus the new $20 million cap. Further detail is expected when the full Restated Credit Agreement is filed as an exhibit in the next periodic report.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Understanding 8-K Material Events →
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UNITED STATES
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): November 24, 2025
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South Dakota Soybean Processors, LLC
(Exact name of registrant as specified in its charter)
South Dakota000-5025346-0462968
(State or other jurisdiction of incorporation)(Commission File Number)(I.R.S. Employer Identification No.)
100 Caspian Avenue; PO Box 500
Volga, South Dakota
 57071
(Address of principal executive offices) (Zip Code)
(605) 627-9240
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)

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:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: None
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
¨Emerging growth company


Item 1.01 Entry into a Material Definitive Agreement.
On November 24, 2025, South Dakota Soybean Processors, LLC (the "Company") entered into Amended and Restated Credit Agreement (the "Restated Credit Agreement") with our lender, CoBank, ACB, which amends and restates our existing Credit Agreement dated March 17, 2025.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On November 24, 2025, we entered into the Amended and Restated Credit Agreement with our lender, CoBank, ACB. Under the Restated Credit Agreement, the principal available under the Company's seasonal loan decreases from $70 million to $20 million, and the maturity date is extended to December 1, 2026. The Restated Credit Agreement also revises the unconsolidated working capital requirement for the Company, reducing it from $14 million to $10 million.
All other material items and conditions under the Credit Agreement dated March 17, 2025, and subsequent amendments to such agreement, remain the same following the Restated Credit Agreement. The Restated Credit Agreement will be filed as an exhibit in our 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: November 25, 2025/s/ Mark Hyde
 Mark Hyde, Chief Financial Officer
 


Source: View Original Filing on SEC EDGAR

FAQ

What did South Dakota Soybean Processors (SDSYA) announce in this 8-K?

The company reported that it entered into an Amended and Restated Credit Agreement with its lender, CoBank, ACB, replacing its prior credit agreement dated March 17, 2025.

How did the seasonal loan availability change for SDSYA under the new credit agreement?

Under the Restated Credit Agreement, the principal available under the company’s seasonal loan decreases from $70 million to $20 million, materially reducing the size of that credit line.

What is the new maturity date of South Dakota Soybean Processors’ credit facility?

The maturity date under the Restated Credit Agreement is extended to December 1, 2026, providing a longer term before the facility must be repaid or renewed.

How were the working capital covenants changed for SDSYA?

The agreement revises the company’s unconsolidated working capital requirement, reducing it from $14 million to $10 million, which represents a less restrictive covenant level.

Did any other material terms of SDSYA’s prior credit agreement change?

The company states that all other material items and conditions under the March 17, 2025 Credit Agreement and its subsequent amendments remain the same after the Restated Credit Agreement.

Where can investors find the full details of the Restated Credit Agreement for SDSYA?

The company indicates that the Restated Credit Agreement will be filed as an exhibit in its next periodic report, where full terms will be available.