Wed, Aug. 17, 2:03 PM
Fri, Aug. 12, 2:02 PM
Wed, Aug. 10, 2:02 PM
Wed, Aug. 10, 12:47 PM
Wed, Aug. 10, 9:17 AM| Wed, Aug. 10, 9:17 AM | 4 Comments
Wed, Jul. 20, 2:00 PM
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
Fri, Apr. 1, 12:46 PM
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.
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. 10, 2015, 12:48 PM
Aug. 20, 2015, 12:45 PM
Aug. 20, 2015, 9:14 AM
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.
Dec. 12, 2014, 12:46 PM
Sep. 30, 2014, 9:40 AM
- Mosaic (MOS -2.1%) opens lower after saying it is reducing phosphate fertilizer production because of high sulfur and ammonia prices.
- MOS says the curtailment will result in lower operating rates at its mines and concentrates plants but does not expect any employee layoffs.
- MOS also says it expects Q3 potash and phosphate sales volumes to be at or near the lower end of previous guidance, due to weather-driven production outages in potash and by timing of shipments in phosphates; prices are expected to remain near the middle of guidance.
- POT -1.1%, AGU -0.9%, CF -0.2%, RNF -0.8%, RTK -1.7%.
Rentech, Inc. engages in the supplying of wood chips, wood pellets and nitrogen fertilizers. It owns patented technologies for synthetic fuels and power production. The company owns the intellectual property including, patents pilot and demonstration data, and engineering designs for a number of... More
Sector: Basic Materials
Industry: Agricultural Chemicals
Country: United States