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CVR Energy plans to offer $125M in notes

By Associated Press
June 20, 2008 | Comments (0)

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CVR Energy Inc. said Friday it has filed a registration statement with the Securities and Exchange Commission detailing plans to offer $125 million in convertible senior notes due 2013.

CVR Energy, which operates oil refining and nitrogen fertilizer production businesses, said it may sell up to an additional $18.8 million in notes to cover over-allotments.

The notes will be convertible to cash at stock under certain circumstances and at the company's discretion.

The conversion price and other terms of the notes will be determined when the offer is priced, CVR said.

CVR said it plans to use net proceeds from the offering for general corporate purposes.

Goldman, Sachs & Co. and Citigroup Global Markets, Inc. are the lead underwriters.

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