October 21, 2016 8:16 AM ET


Company Overview of Rentech Nitrogen Partners, L.P.

Company Overview

Rentech Nitrogen Partners, L.P. produces and sells nitrogen fertilizer products in the United States and internationally. The company operates through two segments, East Dubuque and Pasadena. It offers ammonia, urea ammonium nitrate solution, liquid and granular urea, nitric acid, food-grade carbon dioxide, ammonium sulfate, ammonium thiosulfate, and sulfuric acid. Rentech Nitrogen GP, LLC serves as the general partner of Rentech Nitrogen Partners, L.P. The company is based in Los Angeles, California. As of April 1, 2016, Rentech Nitrogen Partners, L.P. operates as a subsidiary of CVR Partners, LP.

10877 Wilshire Boulevard

10th Floor

Los Angeles, CA 90024

United States

268 Employees



Key Executives for Rentech Nitrogen Partners, L.P.

Chief Executive Officer of Rentech Nitrogen Gp LLC, President of Rentech Nitrogen Gp LLC and Director of Rentech Nitrogen Gp LLC
Age: 51
Chief Financial Officer of Rentech Nitrogen Gp LLC, Treasurer of Rentech Nitrogen Gp Llc and Director of Rentech Nitrogen Gp LLC
Age: 53
Former President of Rentech Nitrogen GP LLC and Director of Rentech Nitrogen GP LLC
Age: 59
Vice President of Investor Relations and Communications
Compensation as of Fiscal Year 2016.

Rentech Nitrogen Partners, L.P. Key Developments

CVR Partners, LP, CCR Nitrogen, LP, East Dubuque Nitrogen Fertilizers, LLC, Coffeyville Resources Nitrogen Fertilizers, LLC, CVR Nitrogen Holdings, LLC , CVR Nitrogen Finance Corporation and CVR Nitrogen Gp, LLC Enter into an ABL Credit Agreement

On September 30, 2016, CVR Partners, LP, CVR Nitrogen, LP, East Dubuque Nitrogen Fertilizers, LLC, Coffeyville Resources Nitrogen Fertilizers, LLC, CVR Nitrogen Holdings, LLC, CVR Nitrogen Finance Corporation and CVR Nitrogen GP, LLC (collectively, the Credit Parties") entered into an ABL credit agreement (the ABL Credit Facility") with a group of lenders and UBS AG, Stamford Branch (UBS"), as administrative agent and collateral agent. The ABL Credit Facility is a senior secured asset based revolving credit facility in an aggregate principal amount of up to $50.0 million with an incremental facility, which permits an increase in borrowings of up to $25.0 million in the aggregate subject to additional lender commitments and certain other conditions. The proceeds of the loans may be used for capital expenditures and working capital and general corporate purposes of the Credit Parties and their subsidiaries. The ABL Credit Facility provides for loans and standby letters of credit in an amount up to the aggregate availability under the facility, subject to meeting certain borrowing base conditions, with sub-limits of the lesser of 10% of the total facility commitment and $5.0 million for swingline loans and $10.0 million for letters of credit. At the option of the borrowers, loans under the ABL Credit Facility initially bear interest at an annual rate equal to 2.00% plus LIBOR or 1.00% plus a base rate, subject to a 0.50% step-down based on the previous quarter's excess availability.

Rentech Nitrogen Partners, L.P. Announces Final Results of Tender Offer

CVR Partners, LP announced cash tender offer by its subsidiary CVR Nitrogen, LP (f/k/a East Dubuque Nitrogen Partners, L.P., f/k/a Rentech Nitrogen Partners, L.P.) to purchase any and all of the outstanding 6.500% Second Lien Senior Secured Notes due 2021 (CUSIP Nos. 76011Q AA7 and U76034 AA2) issued by the Company and CVR Nitrogen Finance Corporation (f/k/a East Dubuque Finance Corporation, f/k/a Rentech Nitrogen Finance Corporation). The Tender Offer expired at 5:00 p.m., New York City time, on June 8, 2016. The Company has accepted for purchase $315,245,000.00 aggregate principal amount of the Notes, representing approximately 98.51% of the total outstanding principal amount of the Notes, at a purchase price of $1,015.00 per Note, for a total cost of approximately $319,973,675.00, excluding fees and expenses relating to the Tender Offer. The Company is funding the purchase of the Notes in the Tender Offer with proceeds from the issuance of CVR Partners'$645 million aggregate principal amount of 9.250% senior secured notes due 2023, which is anticipated to close on June 10, 2016.

CVR Partners Extends Tender Offer for Outstanding Senior Notes Due 2021

CVR Partners LP declared that its subsidiary CVR Nitrogen LP extended the cash tender offer to buy any and all of its outstanding 6.500% second lien senior secured notes due 2021 issued by the company and CVR Nitrogen Finance Corporation. This tender offer that was to expire on May 27, 2016, will now do so on June 8, 2016 unless extended again by the company. It also said that it is not extending the withdrawal deadline of the tender offer that occurred on May 26, 2016. Accordingly, all notes tendered earlier and those tendered after the withdrawal deadline and before the expiry, may not be withdrawn. Also, the company revised the withdrawal deadline and the expiry date of its offer to cash purchase any and all of its outstanding notes at a price of 101% of the aggregate principal amount (the change of control offer) to June 23, 2016 and June 27, 2016, respectively.

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Recent Private Companies Transactions

March 14, 2016
Rentech Nitrogen Pasadena Holdings, LLC

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