SUGAR LAND, Texas
Jan. 16, 2013
/PRNewswire/ -- CVR Refining, LP ("CVR Refining") today announced the pricing of its initial public offering of 24,000,000 common units representing limited partner interests at the public offering price of
per common unit. The common units are scheduled to begin trading tomorrow on the New York Stock Exchange under the symbol "CVRR." CVR Refining has granted the underwriters an option to purchase up to an additional 3,600,000 common units from CVR Refining at the initial public offering price. All of the common units to be sold in this offering (including the common units that may be sold to satisfy the underwriters' option) will be sold by CVR Refining. The offering is expected to close on
January 23, 2013
, subject to customary closing conditions.
After the offering, CVR Energy, Inc. will indirectly own common units representing approximately 83.7% of CVR Refining's outstanding units (approximately 81.3% if the underwriters exercise their option to purchase additional common units in full) and CVR Refining's general partner, which owns a non-economic general partner interest in CVR Refining. In addition, Icahn Enterprises, L.P. or its affiliates will purchase 4,000,000 of CVR Refining's common units in the offering and will own approximately 2.7% of the outstanding common units. Icahn Enterprises, L.P. is the majority stockholder of CVR Energy, Inc.
Credit Suisse, Citigroup, Barclays, UBS Investment Bank and Jefferies are acting as joint book-running managers and J.P. Morgan, Macquarie Capital and Simmons & Company International are acting as co-managers for the initial public offering. The offering will be made only by means of a prospectus. When available, a final prospectus relating to the offering may be obtained from:
- Credit Suisse Securities ( USA) LLC, Attn: Prospectus Department, One Madison Avenue, New York, NY 10010, telephone: 1-800-221-1037 or email at firstname.lastname@example.org;
- Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146 or email at email@example.com;
- Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-888-603-5847 or email at firstname.lastname@example.org;
- UBS Securities LLC, Attn: Prospectus Department, 299 Park Avenue, New York, NY 10171, telephone: 1-888-827-7275; or
- Jefferies & Company, Inc., Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, 12th Floor, New York, NY 10022, telephone: 1-877-547-6340 or email at email@example.com.
When available, you may also get a copy of the final prospectus for free by visiting the Securities and Exchange Commission's website at
A registration statement relating to the common units has been filed with, and declared effective by, the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the common units in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.