GE Capital Agents $300 Million for Rentech Nitrogen
GE Capital, Corporate Finance 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., 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 is a 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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