Sugar Land, Texas-CVR Energy Inc., the owner of Coffeyville Resources, announced Oct. 22 that its initial public offering of 20 million shares of common stock was priced at $19.00 per share. The net proceeds from the offering will be used to repay $280 million of term loans under the company’s credit facility to reduce other corporate debt and for general corporate purposes. They began trading Oct. 23 on the New York Stock Exchange under the ticker symbol CVI. Goldman, Sachs & Co. and Deutsche Bank Securities Inc. acted as joint book runners on the transaction and serve as representatives of the underwriters, which also include Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., and Simmons & Co. International. The offering’s underwriters will have a 30-day option to purchase up to 3 million additional shares of common stock.
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