GE Capital, Corporate Finance announced it is administrative agent on a $300 million cash flow credit facility for Rentech Nitrogen, a manufacturer and distributor of nitrogen fertilizer products, and Rentech Nitrogen Partners. The financing funded the acquisition of Agrifos, will support future growth projects and provide working capital. GE Capital Markets served as sole lead arranger and bookrunner.
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 LLC is the largest producer of synthetic granulated ammonium sulfate fertilizer in North America.
"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."