Daily News: August 11, 2014

GE Provides Rentech Financing

GE Capital announced it is providing Rentech Nitrogen Partners with a $50 million cash flow financing for a series of capacity expansion projects to support the partnership’s future growth. The facility will also be available, if needed, for general partnership purposes.

The Los Angeles-based partnership is a leading provider of natural gas-based nitrogenous fertilizers, with manufacturing facilities located in East Dubuque, IL and Pasadena, TX.

“Through GE we were able to secure a flexible financing solution with attractive terms to fund growth projects at our facilities,” said Dan J. Cohrs, CFO of Rentech Nitrogen GP. “GE and Rentech have a long-term relationship and we look forward to continuing to work with them.”

“We are focused on customizing capital solutions for middle-market companies like Rentech Nitrogen to support strategic initiatives,” said Bob McCarrick, chief commercial officer—lending, GE Capital, Corporate Finance. “By combining our industry and structuring expertise, we provided Rentech Nitrogen with opportunistic growth financing for their master limited partnership.”