Key Developments: CVR Refining LP (CVRR.N)
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Latest Key Developments (Source: Significant Developments)
CVR Refining LP Announces Closing Of Public Offering Of Common Units
CVR Refining LP announced that it has closed its public offering of 12,000,000 common units representing limited partner interests (Common Units) at the public offering price of $30.75 per Common Unit. CVR Refining has granted the underwriters an option to purchase up to an additional 1,800,000 Common Units from CVR Refining at the public offering price. All of the Common Units sold in the offering were sold by CVR Refining. CVR Refining has used the net proceeds from the offering to redeem 12,000,000 Common Units from CVR Refining Holdings, LLC (CVR Refining Holdings). Accordingly, the offering did not change the number of Common Units outstanding Full Article
CVR Refining LP Prices Public Offering At $30.75 per Common Unit
CVR Refining LP announced the pricing of public offering of 12,000,000 common units representing limited partner interests at the public offering price of $30.75 per Common Unit. CVR Refining has granted the underwriters an option to purchase up to an additional 1,800,000 Common Units from CVR Refining at the public offering price. All of the Common Units to be sold in this offering (including the Common Units that may be sold to satisfy the underwriters' option) will be sold by CVR Refining. The offering is expected to close on May 20, 2013. CVR Refining intends to use the net proceeds from the offering, including any proceeds from the underwriters' option to purchase additional Common Units, to redeem from CVR Refining Holdings, LLC (CVR Refining Holdings) a number of Common Units equal to the number of Common Units sold in the offering. Accordingly, the offering will not change the number of Common Units outstanding. Full Article
CVR Refining LP Announces Launch Of Public Offering Of 12,000,000 Common Units Representing Limited Partner Interests
CVR Refining LP announced the launch of a public offering of 12,000,000 common units representing limited partner interests. CVR Refining anticipates granting the underwriters an option to purchase up to an additional 1,800,000 Common Units from CVR Refining at the public offering price. All of the Common Units to be sold in this offering (including the Common Units that may be sold to satisfy the underwriters' option) will be sold by CVR Refining. CVR Refining intends to use the net proceeds from the offering, including any proceeds from the underwriters' option to purchase additional Common Units, to redeem from CVR Refining Holdings, LLC (CVR Refining Holdings) a number of Common Units equal to the number of Common Units sold in the offering. Accordingly, the offering will not change the number of Common Units outstanding. Credit Suisse is acting as the sole representative of the underwriters. Barclays, Citigroup, Jefferies, UBS Investment Bank and J.P. Morgan are acting as joint book-running managers and SunTrust Robinson Humphrey is acting as a co-manager. Full Article
CVR Refining LP Announces Closing Of Initial Public Offering Of Common Units
CVR Refining LP announced that it has closed its initial public offering of 24,000,000 common units representing limited partner interests in CVR Refining at a price of $25.00 per common unit. CVR Refining has granted the underwriters a 30-day option to purchase up to an additional 3,600,000 common units from CVR Refining at the initial public offering price. All of the common units sold in this offering were sold by CVR Refining. CVR Energy, Inc. will indirectly own common units representing approximately 83.7% of CVR Refining's outstanding common units if the Underwriters' option to purchase additional common units is not exercised (or 81.3% if the Underwriter's option to purchase additional common units is exercised in full). CVR Energy, Inc. also owns CVR Refining's general partner, which owns a non-economic general partner interest in CVR Refining. In addition, Icahn Enterprises Holdings L.P., an affiliate of Icahn Enterprises, L.P., purchased 4,000,000 of CVR Refining's common units in the offering and owns approximately 2.7% of the outstanding common units. Icahn Enterprises, L.P. is the majority stockholder of CVR Energy, Inc. Credit Suisse, Citigroup, Barclays, UBS Investment Bank and Jefferies acted as joint book-running managers and J.P. Morgan, Macquarie Capital and Simmons & Company International acted as co-managers for the initial public offering. Full Article
CVR Refining LP Announces Completion Of IPO-GlobalData Financial Deals Tracker
GlobalData Financial Deals Tracker reported that CVR Refining LP completed the Initial Public Offering (IPO) of 24 million common units, at a price of $25 per unit, for gross proceeds of $600 million. The Company Listed its common units on the New York Stock Exchange under the symbol CVRR. The Company also granted the underwriters a 30-day option to purchase up to an additional 3.6 million common units. Credit Suisse Securities (USA) LLC, Citigroup Global Markets, Inc., UBS Securities LLC, Barclays Capital Inc. and Jefferies & Company, Inc. acted as joint book-running managers, whereas J.P. Morgan Securities LLC, Macquarie Capital (USA) Inc. and Simmons & Company International Limited acted as underwriters to the Company for the offering. Vinson & Elkins L.L.P. acted as legal advisor to the Company for the offering. The Company intends to use the proceeds from the offering to repurchase the 10.875% senior secured notes due 2017; to prefund certain maintenance and environmental capital expenditures through 2014, to fund the turnaround expenses of its Wynnewood refinery and for general purposes. Full Article
CVR Refining LP Prices Initial Public Offering at $25.00 Per Common Unit
CVR Refining LP announced the pricing of its initial public offering of 24,000,000 common units representing limited partner interests at the public offering price of $25.00 per common unit. The common units are scheduled to begin trading tomorrow on the New York Stock Exchange under the symbol CVRR. CVR Refining has granted the underwriters an option to purchase up to an additional 3,600,000 common units from CVR Refining at the initial public offering price. All of the common units to be sold in this offering (including the common units that may be sold to satisfy the underwriters' option) will be sold by CVR Refining. The offering is expected to close on January 23, 2013. the offering, CVR Energy, Inc. will indirectly own common units representing approximately 83.7% of CVR Refining's outstanding units (approximately 81.3% if the underwriters exercise their option to purchase additional common units in full) and CVR Refining's general partner, which owns a non-economic general partner interest in CVR Refining. Credit Suisse, Citigroup, Barclays, UBS Investment Bank and Jefferies are acting as joint book-running managers and J.P. Morgan, Macquarie Capital and Simmons & Company International are acting as co-managers for the initial public offering. Full Article
CVR Refining LP Announces Launch Of Initial Public Offering
CVR Refining LP announced the launch of initial public offering of 20,000,000 common units representing limited partner interests. CVR Refining will list common units on the New York Stock Exchange under the symbol CVRR. CVR Refining anticipates granting the underwriters an option to purchase up to an additional 3,000,000 common units from CVR Refining at the initial public offering price. All of the common units to be sold in this offering (including the common units that may be sold to satisfy the underwriters' option) will be sold by CVR Refining. After the offering, CVR Energy, Inc. will indirectly own common units representing approximately 86.4% of CVR Refining's outstanding units (approximately 84.4% if the underwriters exercise their option to purchase additional common units in full) and CVR Refining's general partner, which owns a non-economic general partner interest in CVR Refining. Credit Suisse, Citigroup, Barclays, UBS Investment Bank and Jefferies are acting as joint book-running managers and J.P. Morgan, Macquarie Capital and Simmons & Company International are acting as co-managers for the initial public offering. Full Article
CVR Refining LP Files For IPO Of Up To $300 Million-Reuters
Reuters reported that CVR Refining LP , an associate of U.S. oil refiner CVR Energy Inc (CVI.N), filed with regulators to raise up to $300 million in an initial public offering of its common units. The downstream energy limited partnership listed Credit Suisse and Citigroup as lead underwriters to the offering. CVR Refining intends to list its common units on the New York Stock Exchange under the symbol CVRR, it said in a filing with the U.S. Securities and Exchange Commission. Full Article

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