On January 16, 2025, (i) the Borrower, the DOE, acting by and through the Secretary of Energy, and the Federal Financing Bank (the “FFB”) entered into a Note Purchase Agreement (the “FFB Note Purchase Agreement”) in respect of which, among other things, the DOE provided a guarantee of (x) the Borrower’s obligations to repay term loan borrowings and capitalized interest (such loans and capitalized interest, collectively, the “Guaranteed Loan”) provided by the FFB to the Borrower and evidenced by an initial future advance promissory note (the “FFB Promissory Note”) and (y) the Borrower’s other obligations owing to FFB in respect of the Guaranteed Loan and (ii) in connection and concurrently therewith, the Borrower and Plug Power Limestone, LLC (the “Limestone Project Company”), a wholly owned indirect subsidiary of the Company, entered into a Loan Guarantee Agreement (the “DOE Loan Guarantee Agreement”) with the DOE.
The FFB Promissory Note provides for an initial extension of the Guaranteed Loan, subject to the achievement of certain conditions, in an aggregate maximum principal amount of up to $387,598,647.06 and an aggregate maximum amount of capitalized interest of up to $26,807,693.17 to finance the development, construction, and ownership of a Facility in Young County, Texas (the “Limestone Project”) by the Limestone Project Company.
The DOE Loan Guarantee Agreement provides for a multi draw term loan facility (the “DOE Loan Facility”) by way of a series of advances under the Guaranteed Loan (each, an “Advance”), each such Advance being subject to the achievement of certain conditions. Advances under the Guaranteed Loan will be used to reimburse each Project Company (as such term is defined in the DOE Loan Guarantee Agreement) for Eligible Project Cost Reimbursement Amounts (as such term is defined in the DOE Loan Guarantee Agreement) and pay for Eligible Project Costs (as such term is defined in the DOE Loan Guarantee Agreement).
The final scheduled maturity date for the DOE Loan Facility is March 5, 2043. Interest and scheduled principal amortization payments on the Guaranteed Loan are payable quarterly, commencing on June 5, 2028. Each Advance shall bear interest at the applicable U.S. Treasury rate at the time an Advance is made to the Borrower plus 2%.
Quelle:
https://www.sec.gov/ix?doc=/Archives/edgar/data/.../tm254135d1_8k.htmWurde von der SEC heute veröffentlicht.