GSO Capital Partners has invested $150 million in Rentech (NASDAQ: RTK) in the form of $100 million in convertible preferred stock and a $50 million term loan. Rentech owns and operates wood fiber processing and nitrogen fertilizer manufacturing businesses, providing wood chipping services, operations, marketing and trading services and more. The funds will help Rentech's wood processing business increase in scale so as to prep for a possible IPO as a master limited partnership. In addition, Rentech used the monies to repay the $50 million balance on its revolving margin loan, terminating the facility. GSO picked up a couple board seats with the transaction, the stock portion of which represents about 16.5% of Rentech's common stock.