GE to fund Rentech Nitrogen fertilizer expansions
8/8/2014 12:00:00 AM
GE Capital announced Friday that it is providing Rentech Nitrogen 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.
“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 at GE Capital. “By combining our industry and structuring expertise, we provided Rentech Nitrogen with opportunistic growth financing for their master limited partnership.”
The Rentech partnership, headquartered in Los Angeles, is a leading provider of natural gas-based nitrogenous fertilizers, with manufacturing facilities located in East Dubuque, Illinois, and Pasadena, Texas.
“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, chief financial officer of Rentech Nitrogen. “GE and Rentech have a long-term relationship and we look forward to continuing to work with them.”
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