CVR Refining, LP Announces Closing Of Initial Public Offering Of Common Units

CVR Refining, LP Announces Closing Of Initial Public Offering Of Common Units

PR Newswire

SUGAR LAND, Texas, Jan. 23, 2013

SUGAR LAND, Texas, Jan. 23, 2013 /PRNewswire/ --CVR Refining, LP ("CVR
Refining") today announced that it has closed its initial public offering of
24,000,000 common units representing limited partner interests in CVR Refining
at a price of $25.00 per common unit. CVR Refining has granted the
underwriters a 30-day 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 sold in this offering were sold by CVR Refining.


CVR Energy, Inc. will indirectly own common units representing approximately
83.7% of CVR Refining's outstanding common units if the Underwriters' option
to purchase additional common units is not exercised (or 81.3% if the
Underwriter's option to purchase additional common units is exercised in
full). CVR Energy, Inc. also owns CVR Refining's general partner, which owns a
non-economic general partner interest in CVR Refining. In addition, Icahn
Enterprises Holdings L.P., an affiliate of Icahn Enterprises, L.P., purchased
4,000,000 of CVR Refining's common units in the offering and owns
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 acted as
joint book-running managers and J.P. Morgan, Macquarie Capital and Simmons &
Company International acted as co-managers for the initial public offering.
The offering was made only by means of a prospectus, copies of which 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;
  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

You may also get a copy of the 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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