Rentech Nitrogen: The Last Looming Question
Mon, Apr. 4, 2:58 PM
- Rentech (RTK +4.2%) extends Friday's gains that followed news that it closed the merger of Rentech Nitrogen Partners (NYSE:RNF) and CVR Partners, which has enabled it to retire $142M of senior obligations to GSO Capital Partners; shares are up 43% since the announcement.
- RTK says the acquisition improves its liquidity positioning, reduces future interest expenses and better positions itself to maximize the value of its investments within the wood fibre processing industry.
- RTK also says it retained $109.8M of the total pre-tax proceeds from the deal and estimates it will pay $5M-$15M in taxes.
- Now read Rentech revises agreements with GSO to assist RNF-CVR merger closure
Thu, Mar. 17, 7:43 AM
- Rentech Nitrogen Partners (NYSE:RNF) declares $0.11/share special dividend.
- The distribution represents initial sale proceeds of $5M net of transaction-related fees of approximately $0.6M.
- Payable March 31; for shareholders of record March 28; ex-div March 23.
Wed, Mar. 16, 6:32 AM
- Rentech Nitrogen Partners (NYSE:RNF): Q4 EPS of $0.20 misses by $0.20.
- Revenue of $77.38M (-3.9% Y/Y) misses by $21.62M.
Tue, Mar. 15, 12:49 PM
- Rentech (RTK +4.4%) rises after GSO Capital Partners agrees to provide $6M in additional short-term liquidity if required prior to the closing of the pending merger between Rentech Nitrogen Partners (RNF -1.7%) and CVR Partners (UAN -2.8%).
- GSO also agrees to revise its existing waiver and amendment agreement with RTK, which the company says is intended to enable the merger to close without regard to whether RTK receives units in CVR sufficient to repay a fixed amount of preferred stock and debt held by GSO.
- Separately, RNF says it sold its Pasadena, Tex., facility to Pasadena Commodities International, the plant's long-time distributor for ammonium sulfate.
Mon, Feb. 15, 9:35 PM
- Rentech Nitrogen Partners (NYSE:RNF) declares $0.10/share quarterly dividend.
- Forward yield 5.63%
- Payable Feb. 29; for shareholders of record Feb. 25; ex-div Feb. 23.
Nov. 10, 2015, 3:19 PM
- Rentech (RTK -30.3%) is routed after reporting a Q3 loss of $1.38/share on revenues that came in about a third short of expectations.
- RTK warns that it will need either the proceeds anticipated from the merger of Rentech Nitrogen (RNF -5.3%) with CVR Partners (UAN -0.6%) and the sale of its Pasadena facility or other sources of cash by the early months of 2016 to fund its operating and investing needs; in the event the merger and Pasadena sale are delayed, RTK says it would need alternative sources of cash to fund its operations leading to the closing of the merger.
- RTK says it is in discussions to arrange additional borrowing and/or to pledge or sell some of the 3.1M unpledged units of RNF it owns, but the outcome of such discussions is not yet known.
Nov. 9, 2015, 6:11 PM
- Rentech Nitrogen Partners (NYSE:RNF) declares $0.25/share quarterly dividend.
- Forward yield 8.38%
- Payable Nov. 27; for shareholders of record Nov. 20; ex-div Nov. 18.
Nov. 9, 2015, 5:28 PM
- Rentech Nitrogen Partners (NYSE:RNF): Q3 EPS of $0.18 misses by $0.04.
- Revenue of $84.3M (+0.2% Y/Y) beats by $5.42M.
Nov. 9, 2015, 5:25 PM
- Rentech Nitrogen Partners (NYSE:RNF): Q3 EPS of -$0.66 may not be comparable to consensus of $0.22.
- Revenue of $84.32M (+0.2% Y/Y) beats by $5.44M.
Aug. 11, 2015, 7:02 AM
- Rentech Nitrogen Partners (NYSE:RNF): Q2 EPS of $0.92 beats by $0.23.
- Revenue of $109.9M (-3.3% Y/Y) beats by $0.76M.
Aug. 10, 2015, 12:45 PM
Aug. 10, 2015, 6:27 AM
- CVR Partners (NYSE:UAN) has agreed to buy Rentech Nitrogen Partners (NYSE:RNF) for $533M, excluding debt and Rentech's Pasadena plant.
- Under terms of the deal, Rentech Nitrogen shareholders will receive 1.04 units of CVR Partners and $2.57 cash for each unit held, representing a premium of 33% to Rentech Nitrogen's closing price on Friday.
- "Once the merger is complete, we will be the second largest producer of urea ammonium nitrate in North America," said CVR Chief Executive Jack Lipinski.
May 11, 2015, 7:04 AM
- Rentech Nitrogen Partners (NYSE:RNF): Q1 EPS of $0.23 beats by $0.11.
- Revenue of $69.17M (+22.9% Y/Y) beats by $3.25M.
Mar. 17, 2015, 7:07 AM
- Rentech Nitrogen Partners (NYSE:RNF): Q4 EPS of $0.06 misses by $0.14.
- Revenue of $80.56M (+47.6% Y/Y)
Feb. 17, 2015, 9:45 AM
- Rentech Nitrogen Partners (RNF +5.8%) pops higher at the open after saying it has begun a process to explore potential strategic alternatives, which may include a sale of the partnership, a merger with another party, a sale of some or all of the assets, or another strategic transaction.
- Rentech (RTK +3.9%) says it concurs with the partnership’s decision to explore its strategic alternatives.
- RTK also says GSO Capital Partners has increased its credit facility by up to $63M; most of the proceeds from the new facility are expected to fund completion of RTK's Canadian wood pellet projects, whose costs are now seen rising to $125M-$130M.
Feb. 12, 2015, 4:52 PM
- Rentech Nitrogen Partners (NYSE:RNF) declares $0.15/share quarterly distribution.
- Forward yield 4.89%
- Payable Feb. 27; for shareholders of record Feb. 23; ex-div Feb. 19.
- The board declared additional distribution $0.15/share payable along with quarter distribution.