CVR Energy gets $105 million short-term loan at Libor plus 150 bps

By Angela McDaniels

Tacoma, Wash., Jan. 29 – CVR Energy, Inc. entered into a credit agreement to provide for an up to $105 million term loan due March 10, 2019, according to an 8-K filing with the Securities and Exchange Commission.

The interest rate is Libor plus 150 basis points.

Jefferies Finance LLC is the administrative agent, collateral agent and lead arranger.

The company entered into the credit agreement on Tuesday in connection with its purchase of all of the common units representing limited partner interests in CVR Refining, LP not already owned by CVR Refining GP, LLC for $240.55 million and all of the common units held by American Entertainment Properties Corp. and Icahn Enterprises Holdings LP for $60.38 million.

The company paid $10.50 per common unit.

CVR Energy is a Sugar Land, Texas-based holding company engaged in the petroleum refining and nitrogen fertilizer manufacturing industries.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.