GE Capital is Administrative Agent on a $300 Million Cash Flow Credit Facility for Rentech Nitrogen
GE Capital is Administrative Agent on a $300 Million Cash Flow Credit Facility for Rentech Nitrogen LLC
NORWALK, Conn.--(BUSINESS WIRE)-- GE 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. (NYS: 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."
About GE Capital, Corporate Finance
GE Capital, Corporate Finance provides asset-based, cash flow and structured loans and leases to mid-size and large U.S. businesses. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: Aerospace and defense; automotive and transportation; chemicals and plastics; construction and building products, corporate aircraft; energy; food and beverage; manufacturing; marine; metals and mining; paper, packaging and forest products; retail; and technology and electronics. With Access GE, clients also benefit from access to GE's best practices to help build their business. Visit gelending.com/clnews or follow @GELendLease on Twitter.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital). GE (NYS: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. For more information, visit ge.com.
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