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Green Plains Prices Offering Of $100 Million 3.25% Convertible Senior Notes Due 2018

OMAHA, Neb., Sept. 17, 2013 (GLOBE NEWSWIRE) -- Green Plains Renewable Energy, Inc. (Nasdaq:GPRE) (the "Company") announced today the pricing of its offering of $100 million aggregate principal amount of Convertible Senior Notes due 2018 (the "notes"), which was upsized from the previously announced $75 million aggregate principal amount of notes. The notes will be offered and sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), by the initial purchasers of the notes. The Company has also granted the initial purchasers of the notes a 30-day option to purchase up to an additional $20 million aggregate principal amount of notes, solely to cover over-allotments.

The Company intends to use the net proceeds of this offering for general corporate purposes. While the Company does not have any binding commitments or definitive agreements to enter into potential acquisitions, it may use a portion of the net proceeds to acquire or invest in additional facilities, assets or technologies that it believes further its growth strategy. In addition, the Company may use a portion of the net proceeds to repurchase some of its outstanding 5.75% Convertible Senior Notes due 2015 through open market repurchases, privately negotiated transactions or otherwise.

The notes will mature on October 1, 2018 and will bear interest at a fixed rate of 3.25% per year, payable on April 1 and October 1 of each year, beginning April 1, 2014. The notes will be general senior, unsecured obligations of the Company. On and after October 1, 2016, and prior to the maturity date, the Company may redeem all, but not less than all, of the notes for cash if the sale price of the Company's common stock equals or exceeds 140% of the applicable conversion price for a specified time period ending on the trading day immediately prior to the date the Company delivers notice of the redemption. The redemption price will equal 100% of the principal amount of the notes to be redeemed, plus any accrued and unpaid interest to, but excluding, the redemption date. In addition, upon the occurrence of a fundamental change, holders of the notes will have the right, at their option, to require the Company to repurchase their notes in cash at a price equal to 100% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. 

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