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CVR Energy guides $600 million five-year senior notes in mid-8% area; pricing Friday
By Abigail W. Adams
Portland, Me., Dec. 7 – CVR Energy Inc. plans to price $600 million of five-year senior notes (B1/B+/BB-) on Friday with initial guidance for a yield in the mid-8% area, according to a market source.
The notes are non-callable for two years.
Jefferies LLC is sole bookrunner for the Rule 144A and Regulation S without registration rights offering.
Proceeds will be used to redeem the company’s 5¼% senior notes due 2025.
CVR Energy is a Sugar Land, Tex.-based diversified holding company primarily engaged in renewables, petroleum refining and nitrogen fertilizer manufacturing.
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