Citgo plans to sell $1.5 billion notes via bookrunner Deutsche Bank

By Paul A. Harris

Portland, Ore., Jan. 20 – Citgo Holding, Inc., the direct parent of Citgo Petroleum Corp., plans to sell $1.5 billion of high-yield notes, according to an informed source.

Timing on the deal, which will be led by bookrunner Deutsche Bank Securities Inc., has not yet been announced.

Proceeds will be used to fund a distribution to Citgo Holdings’ ultimate parent.

The financing also includes a $1 billion term loan that is also being led by Deutsche Bank and is set to launch at a Thursday bank meeting.

Citgo is a Houston-based refiner and marketer of transportation fuels, lubricants, petrochemicals and other industrial products.

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