SUGAR LAND, Texas
Jan. 23, 2013
/PRNewswire/ -- CVR Refining, LP ("CVR Refining") today announced that it has closed its initial public offering of 24,000,000 common units representing limited partner interests in CVR Refining at a price of
per common unit. CVR Refining has granted the underwriters a 30-day 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 sold in this offering were sold by CVR Refining.
CVR Energy, Inc. will indirectly own common units representing approximately 83.7% of CVR Refining's outstanding common units if the Underwriters' option to purchase additional common units is not exercised (or 81.3% if the Underwriter's option to purchase additional common units is exercised in full). CVR Energy, Inc. also owns CVR Refining's general partner, which owns a non-economic general partner interest in CVR Refining. In addition, Icahn Enterprises Holdings L.P., an affiliate of Icahn Enterprises, L.P., purchased 4,000,000 of CVR Refining's common units in the offering and owns 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 acted as joint book-running managers and J.P. Morgan, Macquarie Capital and Simmons & Company International acted as co-managers for the initial public offering. The offering was made only by means of a prospectus, copies of which 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.
You may also get a copy of the 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.