Deal Description: On January 10, 2020, CVR Energy, Inc. (NYSE: CVI) announced the pricing of its private placement (the “Offering”) under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the “Securities Act”), of $1.0 billion in aggregate principal amount of senior unsecured notes, consisting of $600 million in aggregate principal amount of 5.250% senior unsecured notes due 2025 (the “2025 Notes”) and $400 million in aggregate principal amount of 5.750% senior unsecured notes due 2028 (the “2028 Notes”). The 2025 Notes will be issued at par, and the 2028 Notes will be issued at par. The Offering is expected to close on January 27, 2020, subject to customary closing conditions.

CVR Energy intends to use the net proceeds from the Offering to fund the previously announced redemption of all the outstanding 6.500% Second Lien Senior Secured Notes due 2022 issued by CVR Refining, LLC and Coffeyville Finance Inc., each indirect wholly owned subsidiaries of CVR Energy. The remaining net proceeds will be used for general corporate purposes, which may include funding (i) acquisitions, (ii) capital projects and/or (iii) share repurchases or other distributions to its stockholders.

Baker Botts L.L.P. represented CVR Energy in the Offering.

Baker Botts Lawyers/Office Involved:

• Corporate: A.J. Ericksen (Partner, Houston); Eileen Boyce (Senior Associate, Houston); Jude Dworaczyk (Associate, Houston); Emmie Proctor (Associate, Houston); Malakeh Hijazi (Associate, Houston)


• Finance: Daniel Tristan (Partner, Houston); Josh Espinosa (Associate, Dallas)


• Tax: Robert Phillpott (Partner, Houston); Katie McEvilly (Associate, Houston)


• Environmental: Aileen Hooks (Partner, Austin)

For more information, please see CVR Energy’s news release by clicking here.

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