Press release from PR Newswire
CVR Energy Closes Private Placement of $275 Million of First Lien Senior Secured Notes and $225 Million of Second Lien Senior Secured Notes
Tuesday, April 06, 2010
CVR Energy Closes Private Placement of $275 Million of First Lien Senior Secured Notes and $225 Million of Second Lien Senior Secured Notes16:15 EDT Tuesday, April 06, 2010SUGAR LAND, Texas, April 6 /PRNewswire-FirstCall/ -- CVR Energy, Inc. (NYSE: CVI) announced that its wholly-owned subsidiaries, Coffeyville Resources, LLC and Coffeyville Finance Inc., have completed an offering of $275�million aggregate principal amount of first lien senior secured notes due 2015 and $225�million aggregate principal amount of second lien senior secured notes due 2017. �The notes were sold to qualified institutional buyers in the United States pursuant to Rule�144A under the Securities Act of 1933, as amended.(Logo: �http://www.newscom.com/cgi-bin/prnh/20071203/CVRLOGO)The company intends to use the net proceeds of the offering to repay $453.3 million of term loan indebtedness outstanding under the first priority credit facility and related fees and expenses, with the balance to be used for general corporate purposes.The notes have been guaranteed by each of the company's subsidiaries that guarantee the first priority credit facility and are secured by liens on substantially all of the assets which secure the company's first priority credit facility. The notes have not been 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 EamesCVR Energy, Inc.CVR Energy, Inc.281-207-3464281-207-3550InvestorRelations@CVREnergy.comMediaRelations@CVREnergy.comSOURCE CVR Energy, Inc.For further information: Investor Relations, Stirling Pack, Jr., +1-281-207-3464, InvestorRelations@CVREnergy.com, or Media Relations, Steve Eames, +1-281-207-3550, MediaRelations@CVREnergy.com, both of CVR Energy, Inc.