GE Capital Provides Fertilizer Company Rentech Nitrogen Partners with $50 Million to Fund Growth Projects
CHICAGO--(BUSINESS WIRE)--GE Capital today announced it is providing Rentech Nitrogen Partners, L.P. (NYSE:RNF) 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 partnership, headquartered in Los Angeles, is a leading provider of natural gas-based nitrogenous fertilizers, with manufacturing facilities located in East Dubuque, IL and Pasadena, TX.
“We are focused on customizing capital solutions for middle-market companies like Rentech Nitrogen to support strategic initiatives”
“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, LLC. “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, for GE Capital, Corporate Finance. “By combining our industry and structuring expertise, we provided Rentech Nitrogen with opportunistic growth financing for their master limited partnership.”
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GE Capital, Corporate Finance provides asset-based, cash flow and structured loans and leases to mid-size and large U.S. businesses expanding in North America, Asia and Europe. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: Aerospace; automotive and transportation; chemicals and plastics; construction and building products, corporate aircraft; oil and gas; 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 geccf.com/newsroom or follow @GELendLease on Twitter.
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