Attached files
file | filename |
---|---|
8-K - FORM 8-K - CVR ENERGY INC | y83512e8vk.htm |
Exhibit 99.1
CVR Energy Announces Pricing of
$275 Million of First Lien Senior Secured Notes and
$225 Million of Second Lien Senior Secured Notes
$275 Million of First Lien Senior Secured Notes and
$225 Million of Second Lien Senior Secured Notes
SUGAR LAND, Texas (March 25, 2010) 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 launched at $250 million) aggregate principal amount of first lien senior secured notes due 2015 and
$225 million (originally launched at $250 million) aggregate principal amount of second lien senior secured notes due 2017.
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 companys subsidiaries that guarantee the first
priority credit facility and will be secured by liens on substantially all of the assets which
secure the companys 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:
Investor Relations:
|
Media Relations: | |
Stirling Pack, Jr.
|
Steve Eames | |
CVR Energy, Inc.
|
CVR Energy, Inc. | |
281-207-3464
|
281-207-3550 | |
InvestorRelations@CVREnergy.com
|
MediaRelations@CVREnergy.com |