Sugar Land, Texas-CVR Energy Inc. said March 18 that its wholly-owned subsidiaries, Coffeyville Resources LLC and Coffeyville Finance Inc., have commenced an offering of $250 million aggregate principal amount of first lien senior secured notes due 2015 and $250 million aggregate principal amount of second lien senior secured notes due 2017. The notes will be guaranteed by each of the company’s subsidiaries that guarantee the first priority credit facility, and will be secured by liens on substantially all of the assets that secure the company’s first priority credit facility. CVR Energy intends to use the net proceeds to repay term loan indebtedness outstanding under the first priority credit facility and for general corporate purposes.
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