Rentech Inc. (RTK) announced that Rentech Energy Midwest Corporation, its wholly-owned nitrogen fertilizer operation, secured $62.5 million of debt financing.
The net proceeds of the financing will be used to repay Rentech Energy Midwest's outstanding term loan of approximately $37.1 million and for general corporate purposes, including funding development of the company's technology and synthetic fuels and power projects.
The new term loan will mature on July 29, 2014 and is expected to be repaid from cash flows generated by Rentech Energy Midwest.
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