Rentech sees receiving $60M in cash distributions from Rentech Nitrogen in 2013

Rentech Nitrogen issued guidance for cash available for distribution for the twelve months ending December 31, 2013 of approximately $2.60 per unit. The 2013 guidance includes the impact of two scheduled outages at its facilities during 2013, and the impact of lost revenue in 2013 due to the unscheduled outage at the East Dubuque Facility in December 2012. Excluding the effects of these outages the forecast for 2013 cash available for distribution would have been approximately 65c per unit higher, the company said. Assuming product and input prices equal to those expected in 2013, Rentech Nitrogen noted that the increased annual production from its expansion projects scheduled to come online by the end of 2013 would be expected to add approximately 90c per unit of cash distributions and approximately $41M of EBITDA. Based on Rentech Nitrogen’s current guidance of $2.60 per unit, and assuming Rentech’s current ownership of 23.25 million units of Rentech Nitrogen, Rentech would receive approximately $60M in cash distributions in 2013.