CVR Energy Closes Private Placement of $500 Million of 6.500%
Second Lien Senior Secured Notes
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").
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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.
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.