CVR Refining, LP Prices Initial Public Offering at $25.00 Per Common Unit

  CVR Refining, LP Prices Initial Public Offering at $25.00 Per Common Unit

PR Newswire

SUGAR LAND, Texas, Jan. 16, 2013

SUGAR LAND, Texas, Jan. 16, 2013 /PRNewswire/ --CVR Refining, LP ("CVR
Refining") today announced the pricing of its initial public offering of
24,000,000 common units representing limited partner interests at the public
offering price of $25.00 per common unit. The common units are scheduled to
begin trading tomorrow on the New York Stock Exchange under the symbol "CVRR."
CVR Refining has granted the underwriters an option to purchase up to an
additional 3,600,000 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. The offering is expected to close on
January 23, 2013, subject to customary closing conditions.


After the offering, CVR Energy, Inc. will indirectly own common units
representing approximately 83.7% of CVR Refining's outstanding units
(approximately 81.3% 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,
Icahn Enterprises, L.P. or its affiliates will purchase 4,000,000 of CVR
Refining's common units in the offering and will own approximately 2.7% of the
outstanding common units. Icahn Enterprises, L.P. is the majority stockholder
of CVR Energy, Inc.

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 final prospectus relating to the offering may be obtained

  oCredit Suisse Securities (USA) LLC, Attn: Prospectus Department, One
    Madison Avenue, New York, NY 10010, telephone: 1-800-221-1037 or email at;
  oCitigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
    Edgewood, NY 11717, telephone: 1-800-831-9146 or email at;
  oBarclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long
    Island Avenue, Edgewood, NY 11717, telephone: 1-888-603-5847 or email at;
  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

When available, you may also get a copy of the final prospectus for free by
visiting the Securities and Exchange Commission's website at

A registration statement relating to the common units has been filed with, and
declared effective by, the Securities and Exchange Commission. 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

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

Media Relations:
Angie Dasbach
CVR Refining, LP

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