SUGAR LAND, Texas, March 25 /PRNewswire-FirstCall/ -- CVR Energy,
Inc. (NYSE: CVI) announced that its wholly-owned subsidiaries,
Coffeyville Resources, LLC and Coffeyville Finance Inc., have
priced an offering of $275 million
(originally announced at $250
million) aggregate principal amount of first lien senior
secured notes due 2015 and $225
million (originally announced at $250 million) aggregate principal amount of
second lien senior secured notes due 2017.
(Logo:
http://www.newscom.com/cgi-bin/prnh/20071203/CVRLOGO)
The first lien senior secured notes are being sold at an issue
price of 99.511 percent and will bear interest at a rate of 9
percent per year, payable semi-annually. The second lien
senior secured notes are being sold at an issue price of 98.811
percent and will bear interest at a rate of 10.875 percent per
year, payable semi-annually.
The notes will be guaranteed by each of the company's
subsidiaries that guarantee the first priority credit facility and
will be secured by liens on substantially all of the assets which
secure the company's first priority credit facility. CVR
Energy intends to use the net proceeds to repay term loan
indebtedness outstanding under the first priority credit facility
and for general corporate purposes.
The sale of the notes is expected to be consummated on
April 6, 2010, subject to customary
closing conditions.
The notes will be offered and sold to qualified institutional
buyers in the United States
pursuant to Rule 144A and outside the
United States pursuant to Regulation S under the Securities
Act of 1933, as amended.
The notes have not been, and will not be, registered under the
U.S. Securities Act of 1933, as amended, or any state securities
laws, and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements.
This announcement does not constitute an offer to sell or the
solicitation of an offer to buy any security and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offering would be unlawful. This notice is being issued
pursuant to and in accordance with Rule 135(c) under the Securities
Act.
About CVR Energy, Inc.
Headquartered in Sugar Land,
Texas, CVR Energy, Inc.'s subsidiaries and affiliated
businesses include an independent refiner that operates a 115,000
barrel per day refinery in Coffeyville,
Kan., and markets high value transportation fuels supplied
to customers through tanker trucks and pipeline terminals; a crude
oil gathering system serving central Kansas, Oklahoma, eastern Colorado, western Missouri and southwestern Nebraska; a refined fuels and asphalt storage
and terminal business in Phillipsburg,
Kan.; and through a limited partnership, an ammonia and urea
ammonium nitrate fertilizer business located in Coffeyville, Kan.
For further information, please
contact:
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Investor Relations:
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Media Relations:
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Stirling Pack, Jr.
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Steve Eames
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CVR Energy, Inc.
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CVR Energy, Inc.
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281-207-3464
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281-207-3550
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InvestorRelations@CVREnergy.com
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MediaRelations@CVREnergy.com
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SOURCE CVR Energy, Inc.