CVR Energy prices $1 billion debt offering to refinance existing notes

CVR Energy Inc. (NYSE: CVI) announced the pricing of a $1 billion private debt offering consisting of $600 million in 7.500% senior notes due 2031 and $400 million in 7.875% senior notes due 2034.

The 2031 notes mature February 15, 2031, while the 2034 notes mature February 15, 2034. Both series will be issued at par and guaranteed by certain domestic subsidiaries of the Sugar Land, Texas-based company. The offering is expected to close February 12, 2026, subject to customary closing conditions.

CVR Energy plans to use proceeds from the offering, along with cash on hand or borrowings under its existing $345 million credit facility, to repay its senior secured term loan facility, redeem all outstanding 8.500% senior notes due 2029, and redeem $217 million of its 5.750% senior notes due 2028.

The notes will be offered to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act of 1933. The securities have not been registered under federal securities laws.

CVR Energy operates as a diversified holding company engaged in petroleum refining and marketing, as well as nitrogen fertilizer manufacturing through its interest in CVR Partners LP. The company's subsidiaries serve as general partner and own approximately 37% of CVR Partners' common units.

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