CVR Refining Announces Closing Of Public Offering Of Common Units

      CVR Refining Announces Closing Of Public Offering Of Common Units

PR Newswire

SUGAR LAND, Texas, May 20, 2013

SUGAR LAND, Texas, May 20, 2013 /PRNewswire/ --CVR Refining, LP ("CVR
Refining") today announced that it has closed its public offering of
12,000,000 common units representing limited partner interests ("Common
Units") at the public offering price of $30.75 per Common Unit. CVR Refining
has granted the underwriters an option to purchase up to an additional
1,800,000 Common Units from CVR Refining at the public offering price. All of
the Common Units sold in the offering were sold by CVR Refining.

(Logo: http://photos.prnewswire.com/prnh/20130128/MM49874LOGO)

CVR Refining has used the net proceeds from the offering to redeem 12,000,000
Common Units from CVR Refining Holdings, LLC ("CVR Refining Holdings").
Accordingly, the offering did not change the number of Common Units
outstanding.

Immediately before the offering, CVR Refining Holdings directly or indirectly
owned a total of 120,000,000 Common Units, representing an approximate 81
percent limited partner interest in CVR Refining. CVR Refining Holdings now
directly or indirectly owns 108,000,000 Common Units, representing an
approximate 73 percent limited partner interest in CVR Refining. In addition,
American Entertainment Properties Corp., an affiliate of Icahn Enterprises,
L.P., signed an agreement to purchase 2,000,000 Common Units from an affiliate
of CVR Refining Holdings in a concurrent privately negotiated transaction at a
price per Common Unit equal to the price per Common Unit paid by the public in
this offering. The transaction is expected to close on or around May 23, 2013.
Icahn Enterprises is the majority stockholder of CVR Energy, Inc.

Credit Suisse, Barclays, Citigroup, Jefferies, J.P. Morgan and UBS Investment
Bank acted as joint book-running managers and SunTrust Robinson Humphrey acted
as a co-manager. 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
    newyork.prospectus@credit-suisse.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;
  oCitigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155
    Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146 or email
    at batprospectusdept@citi.com;
  oJefferies LLC, 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;
  oJ.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long
    Island Avenue, Edgewood, NY 11717, telephone: 1-866-803-9204; or
  oUBS Securities LLC, Attn: Prospectus Department, 299 Park Avenue, New
    York, NY 10171, telephone: 1-888-827-7275.

You may also get a copy of the final 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, 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.

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.

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.

For further information, please contact:

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

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



SOURCE CVR Refining, LP
 
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