August 10, 2017 / 10:50 AM / 2 months ago

BRIEF-Rentech posts Q2 loss per share $1.60

Aug 10 (Reuters) - Rentech Inc

* Rentech announces results for second quarter 2017

* Q2 loss per share $1.60

* Q2 revenue $24.7 million versus $31.8 million

* Rentech - ‍Rentech’s net income for Q2, first six months of 2017 negatively impacted by a $26.7 million impairment of its investment in CVR Partners L.P​

* Rentech Inc - ‍ in August 2017, Fulghum was notified by a customer of exercise of its purchase option for six of Fulghum’s chip mills​

* Rentech Inc - ‍ when sale of Fulghum’s chip mills is consummated, company expects to receive a one-time cash payment of approximately $5 million​

* Rentech - Proceeds from chip mills sale to be used to pay off underlying debt on mills,any remaining proceeds to GSO Capital Partners as prepayment of debt​

* Rentech Inc - ‍currently negotiating with drax to cancel remaining pellets shipments in 2017

* Rentech Inc - ‍ Rentech Inc has guaranteed payment obligations of Drax contract up to a maximum amount of cad$20 million​

* Rentech Inc - ‍at this time, cannot make a determination if any penalties will be associated with future changes to contract with Drax​ Source text for Eikon: Further company coverage:

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