Rentech give $40 mn loan Rentech Nitrogen

Rentech to give $40 mn loan to Rentech Nitrogen

1:59 AM, 5th January 2012
Rentech to give $40 mn loan to Rentech Nitrogen

 

LOS ANGELES, US: Rentech Inc announced that it has provided Rentech Nitrogen Partners with a commitment to make an unsecured loan of up to $40 million, to fund the continuation of the ammonia and storage expansion project underway at Rentech Nitrogen. Under the terms of the loan, Rentech Nitrogen may draw on the loan facility periodically through 31 May 2012 at an interest rate of LIBOR 5.5 per cent which are summarized in a current report on Form 8-K that the company will file with the Securities and Exchange Commission. Rentech Nitrogen is currently negotiating with lenders to arrange debt financing for the entire cost of the project, and expects to syndicate and close a term loan within the next several months.

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