GE Capital is Administrative Agent on a $300 Million Cash Flow Credit Facility for Rentech Nitrogen LLC
Capital, Corporate Finance today announced it is administrative
agent on a $300 million cash flow credit facility for Rentech Nitrogen
LLC, a manufacturer and distributor of nitrogen fertilizer products, and
Rentech Nitrogen Partners, L.P. The financing funded the acquisition of
Agrifos LLC, will support future growth projects and provide working
capital. GE Capital Markets served as sole lead arranger and bookrunner.
Owned by Rentech Nitrogen Partners, L.P. (NYSE: RNF), Rentech Nitrogen
LLC owns and operates a nitrogen fertilizer facility located in East
Dubuque, IL. The facility produces primarily natural gas-based ammonium
nitrate solution for sale to customers mainly in the Midwestern U.S.
Based in Pasadena, TX, Agrifos LLC is the largest producer of synthetic
granulated ammonium sulfate fertilizer in North America.
“The financing GE provided allowed us to acquire Agrifos and create a
strategic platform for multi-year growth for Rentech Nitrogen,” said Dan
J. Cohrs, CFO of Rentech Nitrogen GP, LLC. “GE acted as more than just a
lender in planning and executing this transaction and brought us fresh
ideas both for financing and more broadly for our business.”
“Creating custom capital solutions for clients to support their growth
initiatives is our specialty,” said Tom Quindlen, president and CEO of
GE Capital, Corporate Finance. “Regardless of complexity, we strive to
provide a unique combination of strategic thinking, industry expertise
and capital markets execution.”
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