Deal Description: CVR Energy, Inc. (the “Company” or “CVR Energy”) (NYSE: CVI) announced on December 8, 2023 the pricing of its private placement (the “Offering”) pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended, of $600 million in aggregate principal amount of 8.500% senior unsecured notes due 2029 (the “Notes”). The Notes will be issued at par. The Offering is expected to close on December 21, 2023, subject to customary closing conditions.

The Company intends to use the net proceeds from the Offering, together with cash on hand, to redeem all of its outstanding 5.250% Senior Notes due 2025 (the “2025 Notes”). The Company expects to redeem the 2025 Notes on or after February 15, 2024, at an expected redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if any, on the 2025 Notes to be redeemed to the redemption date.

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

Baker Botts Lawyers/Office Involved:

• Corporate: Clint Rancher (Partner, Houston); Eileen Boyce (Partner, Houston); Lakshmi Ramanathan (Special Counsel, Houston); Chandler Block (Associate, Houston); Blake Vick (Associate, Houston)
  
  
• Finance: Caitlin Lawrence (Partner, Houston); Regan Vicknair (Associate, Houston); Madeline McCune (Associate, Houston)
  
  
• Tax: Jon Lobb (Partner, Houston); Katie McEvilly (Senior Associate, Houston); Michael Kovacich (Associate, Houston)
  
  
• Employee Benefits: Jason Loden (Partner, Dallas)
  
  
• Environmental: Aileen Hooks (Senior Counsel, Austin); Katie Windle (Associate, Austin)

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

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