CVR Refining, LP Announces Launch of Initial Public Offering

         CVR Refining, LP Announces Launch of Initial Public Offering

PR Newswire

SUGAR LAND, Texas, Jan. 8, 2013

SUGAR LAND, Texas, Jan. 8, 2013 /PRNewswire/ -- CVR Refining, LP ("CVR
Refining") today announced the launch of its initial public offering of
20,000,000 common units representing limited partner interests. CVR Refining
will list its common units on the New York Stock Exchange under the symbol
"CVRR." CVR Refining anticipates granting the underwriters an option to
purchase up to an additional 3,000,000 common units from CVR Refining at the
initial public offering price. All of the common units to be sold in this
offering (including the common units that may be sold to satisfy the
underwriters' option) will be sold by CVR Refining.

After the offering, CVR Energy, Inc. will indirectly own common units
representing approximately 86.4% of CVR Refining's outstanding units
(approximately 84.4% if the underwriters exercise their option to purchase
additional common units in full) and CVR Refining's general partner, which
owns a non-economic general partner interest in CVR Refining. In addition, the
majority stockholder of CVR Energy Inc., Icahn Enterprises, L.P., has
indicated that it or its affiliates may purchase up to 4,000,000 of CVR
Refining's common units in the offering, in which case they will own
approximately 2.7% of the outstanding common units.

Credit Suisse, Citigroup, Barclays, UBS Investment Bank and Jefferies are
acting as joint book-running managers and J.P. Morgan, Macquarie Capital and
Simmons & Company International are acting as co-managers for the initial
public offering. The offering will be made only by means of a prospectus.
When available, a preliminary prospectus relating to the offering may be
obtained from:

  oCredit Suisse Securities (USA) LLC, Attn: Prospectus Department, One
    Madison Avenue, New York, NY 10010, telephone: 1-800-221-1037 or email at
    newyork.prospectus@credit-suisse.com;
  oCitigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
    Edgewood, NY 11717, telephone: 1-800-831-9146 or email at
    batprospectusdept@citi.com;
  oBarclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long
    Island Avenue, Edgewood, NY 11717, telephone: 1-888-603-5847 or email at
    barclaysprospectus@broadridge.com;
  oUBS Securities LLC, Attn: Prospectus Department, 299 Park Avenue, New
    York, NY 10171, telephone: 1-888-827-7275; or
  oJefferies & Company, Inc., Attn: Equity Syndicate Prospectus Department,
    520 Madison Avenue, 12th Floor, New York, NY 10022, telephone:
    1-877-547-6340 or email at prospectus_department@jefferies.com.

You may also get a copy of the preliminary prospectus for free by visiting the
Securities and Exchange Commission's website at http://www.sec.gov.

A registration statement relating to the common units has been filed with the
Securities and Exchange Commission but has not yet become effective. The
common units may not be sold nor may offers to buy be accepted prior to the
time the registration statement becomes effective. This press release shall
not constitute an offer to sell or the solicitation of an offer to buy nor
shall there be any sale of the common units in any state in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state.

About CVR Refining, LP
Headquartered in Sugar Land, Texas, CVR Refining, LP is an independent
downstream energy limited partnership that owns refining and related logistics
assets in the Midcontinent United States. CVR Refining's subsidiaries operate
a 115,000 barrel per day complex full coking medium-sour crude oil refinery in
Coffeyville, Kan., and a 70,000 bpd medium complexity crude oil refinery in
Wynnewood, Okla. CVR Refining's subsidiaries also operate supporting logistics
assets including approximately 350 miles of pipelines, more than 125 crude oil
transports, a network of strategically located crude oil gathering tank farms,
and more than six million barrels of owned and leased crude oil storage
capacity.

Forward-Looking Statements
This press release contains certain "forward-looking statements" that reflect
the views and assumptions of CVR Refining's management regarding future
events. These forward looking statements involve known and unknown risks,
uncertainties and other factors, many of which may be beyond management's
control and may cause actual results to differ materially from any future
results, performance or achievements expressed or implied by the
forward-looking statements. All forward-looking statements speak only as of
the date hereof. CVR Refining does not assume any obligation to update or
revise the information in any forward-looking statements.

For further information, please contact:

Investor Relations:
Jay Finks
CVR Refining, LP
281-207-3588
InvestorRelations@CVRRefining.com

Media Relations:
Angie Dasbach
CVR Refining, LP
913-982-0482
MediaRelations@CVRRefining.com

SOURCE CVR Refining, LP
 
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