CVR Energy Closes Private Placement of $500 Million of 6.500% Second Lien Senior Secured Notes

CVR Energy

announced that its wholly-owned subsidiaries, CVR Refining, LLC and Coffeyville Finance Inc. (the "Issuers"), have completed an offering of $500 million aggregate principal amount of 6.500% Second Lien Senior Secured Notes due 2022 (the "Notes"). The Notes are secured by substantially the same assets that secure the outstanding 10.875% second lien senior secured notes due 2017 (the "2017 notes") issued by Coffeyville Resources, LLC and Coffeyville Finance Inc., subject to exceptions, until such time that the 2017 notes have been discharged in full. The Issuers used $348,000,175 of the net proceeds from the sale of the Notes to finance the purchase of notes tendered in a tender offer and consent solicitation for the outstanding 9.0% first lien senior secured notes due 2015 (the "2015 notes") issued by Coffeyville Resources, LLC and Coffeyville Finance Inc. The Issuers also intend to use the proceeds to finance the purchase of any remaining 2015 notes tendered before the expiration of the tender offer on November 5, 2012 and/or redeemed pursuant to a notice of redemption, issued today. This news release does not constitute a notice of redemption or an obligation to issue a notice of redemption. The Issuers intend to use any remaining proceeds for general corporate purposes. The Notes were sold to qualified institutional