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CVR Energy Closes Private Placement Of $500 Million Of 6.500% Second Lien Senior Secured Notes

Stocks in this article: CVI





SUGAR LAND, Texas, Oct. 23, 2012 /PRNewswire/ -- CVR Energy, Inc. (NYSE: CVI) announced that its wholly-owned subsidiaries, CVR Refining, LLC and Coffeyville Finance Inc. (the "Issuers"), have completed an offering of $500 million aggregate principal amount of 6.500% Second Lien Senior Secured Notes due 2022 (the "Notes").

(Logo: http://photos.prnewswire.com/prnh/20071203/CVRLOGO

The Notes are secured by substantially the same assets that secure the outstanding 10.875% second lien senior secured notes due 2017 (the "2017 notes") issued by Coffeyville Resources, LLC and Coffeyville Finance Inc., subject to exceptions, until such time that the 2017 notes have been discharged in full.

The Issuers used $348,000,175 of the net proceeds from the sale of the Notes to finance the purchase of notes tendered in a tender offer and consent solicitation for the outstanding 9.0% first lien senior secured notes due 2015 (the "2015 notes") issued by Coffeyville Resources, LLC and Coffeyville Finance Inc. The Issuers also intend to use the proceeds to finance the purchase of any remaining 2015 notes tendered before the expiration of the tender offer on November 5, 2012 and/or redeemed pursuant to a notice of redemption, issued today. This news release does not constitute a notice of redemption or an obligation to issue a notice of redemption. The Issuers intend to use any remaining proceeds for general corporate purposes.

The Notes were sold to qualified institutional buyers in the United States pursuant to Rule 144A and outside the United States pursuant to Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The Notes have not been, and will not be, registered under the Securities Act, 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 of the Securities Act and the rules promulgated thereunder.

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 offer, solicitation or sale would be unlawful. This notice is being issued pursuant to and in accordance with Rule 135c under the Securities Act. 

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