SUGAR LAND, Texas, Oct. 10, 2012 /PRNewswire/ -- CVR Energy, Inc.
(NYSE: CVI) announced that its wholly-owned subsidiaries, CVR
Refining, LLC and Coffeyville Finance Inc. (the "issuers"), have
priced an offering of $500 million
aggregate principal amount of second lien senior secured notes due
2022. The notes are being sold at an issue price of 100% and will
bear interest at the rate of 6.500% per year, payable
semi-annually.
(Logo: http://photos.prnewswire.com/prnh/20071203/CVRLOGO)
The notes will be 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 intend to use the net proceeds from the offering to
finance the purchase of the outstanding 9.0% first lien senior
secured notes due 2015 (the "2015 notes") issued by Coffeyville
Resources, LLC and Coffeyville Finance Inc. pursuant to a tender
offer and consent solicitation which commenced on October 9, 2012. If any or all of the 2015
notes are not purchased in the tender offer, the issuers may use a
portion of the net proceeds from the offering to finance the
redemption, defeasance or discharge of the 2015 notes. 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 sale of the notes is expected to be consummated on
October 23, 2012, subject to
customary closing conditions.
The notes are being 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 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.
Forward Looking Statements
This news release contains forward-looking statements. You
can generally identify forward-looking statements by our use of
forward-looking terminology such as "anticipate," "believe,"
"continue," "could," "estimate," "expect," "explore," "evaluate,"
"intend," "may," "might," "plan," "potential," "predict," "seek,"
"should," or "will," or the negative thereof or other variations
thereon or comparable terminology. These forward-looking statements
are only predictions and involve known and unknown risks and
uncertainties, many of which are beyond our control. These
risks and uncertainties may include, but are not limited to, the
risk factors and other disclosures included in our Annual Report on
Form 10-K for the year ended Dec. 31,
2011, and any subsequently filed quarterly reports on Form
10-Q. These risks may cause our actual results, performance or
achievements to differ materially from any future results,
performance or achievements expressed or implied by these
forward-looking statements. Given these risks and uncertainties,
you are cautioned not to place undue reliance on such
forward-looking statements. The forward-looking statements included
in this news release are made only as of the date hereof.
For further information, please contact:
Investor Relations:
Jay Finks
CVR Energy, Inc.
281-207-3588
InvestorRelations@CVREnergy.com
Media Relations:
Angie Dasbach
CVR Energy, Inc.
913-982-0482
MediaRelations@CVREnergy.com
SOURCE CVR Energy, Inc.