Rentech announced that it secured a $100 million revolving loan facility, collateralized by a portion of the units of Rentech Nitrogen Partners, owned by a subsidiary of Rentech.

Credit Suisse Cayman Islands Branch is serving as lead lender and administrative agent. Credit Suisse Cayman Islands Branch and Morgan Stanley Bank, each hold $50 million of the revolving loan facility commitment at close.

Rentech intends to use the net proceeds from the facility to fund growth and for general corporate purposes. Rentech borrowed $50 million under the facility, with the remaining $50 million of capacity available for future borrowings, so long as certain conditions are satisfied at the time of borrowing.

The revolving loan facility has a maturity of three years and an interest rate on outstanding loan amounts of LIBOR plus 4.0% per year.

Dan Cohrs, chief financial officer of Rentech, stated, “The revolving loan facility provides us with low-cost capital that we can use to fund our strategy of expanding our wood fibre processing business through acquisitions and new development, with the goal of an initial public offering as a master limited partnership.”

Rentech owns and operates wood fibre processing and nitrogen fertilizer manufacturing businesses.