July 27, 2016 2:27 PM ET

Chemicals

Company Overview of CVR Partners, LP

Company Overview

CVR Partners, LP produces, distributes, and markets nitrogen fertilizer products in North America. It provides ammonia products for industrial and agricultural customers; and urea ammonium nitrate products for agricultural customers. CVR GP, LLC serves as the general partner of the company. The company was founded in 2007 and is headquartered in Sugar Land, Texas. CVR Partners, LP operates as a subsidiary of Coffeyville Resources LLC.

2277 Plaza Drive

Suite 500

Sugar Land, TX 77479

United States

Founded in 2007

149 Employees

Phone:

281-207-3200

Key Executives for CVR Partners, LP

Chief Executive Officer of CVR GP LLC, President of CVR GP LLC, Director of CVR GP LLC and Member of Environmental, Health & Safety Committee
Age: 51
Total Annual Compensation: $510.0K
Executive Chairman of CVR GP LLC
Age: 65
Total Annual Compensation: $1.0M
Chief Financial Officer of CVR GP LLC, Chief Accounting Officer of CVR GP LLC and Treasurer of CVR GP LLC
Age: 53
Total Annual Compensation: $415.0K
Executive Vice President of Marketing & Operations - CVR GP LLC
Age: 60
Total Annual Compensation: $270.0K
Senior Vice President of CVR GP LLC, General Counsel of CVR GP LLC and Secretary of CVR GP LLC
Age: 39
Total Annual Compensation: $275.0K
Compensation as of Fiscal Year 2015.

CVR Partners, LP Key Developments

CVR Partners, LP and CVR Nitrogen Finance Corporation Enter into an Indenture Governing a New Series of 9.250% Senior Secured Notes Due 2023

On June 10, 2016, CVR Partners, LP, CVR Nitrogen Finance Corporation (Finance Co" and, together with the Partnership, the Issuers") certain subsidiary guarantors named therein (collectively, the Guarantors") and Wilmington Trust, National Association, as trustee and as collateral trustee entered into an Indenture, dated as of June 10, 2016, governing a new series of the Issuers' 9.250% Senior Secured Notes due 2023 (the Notes") to be sold in a private placement conducted pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended. The net proceeds from the sale of the Notes were used to: (a) repay all amounts outstanding under the $300 million Senior Term Loan Credit Agreement dated April 1, 2016, by and between the Partnership, as borrower, and Coffeyville Resources, LLC, a Delaware limited liability company and the sole member of the general partner of the Partnership, as the lender; (b) finance the purchase of $315,245,000 aggregate principal amount of notes tendered in a cash tender offer (the Tender Offer") and consent solicitation for the outstanding 6.500% Second Lien Senior Secured Notes due 2021, issued by CVR Nitrogen, LP; and (c) to pay related fees and expenses. The Notes will mature on June 15, 2023 and were issued at an issue price of 97.499% of par for net proceeds of approximately $619 million, after deducting the initial purchasers' discount and estimated offering expenses. Interest on the Notes is payable semi-annually in arrears on June 15 and December 15 of each year, beginning on December 15, 2016. The Notes are guaranteed on a senior secured basis by all of the Partnership's existing subsidiaries.

CVR Partners, LP and CVR Nitrogen Finance Corporation Announce Pricing of $645 Million Private Placement of Senior Secured Notes Due 2023

CVR Partners, LP and CVR Nitrogen Finance Corporation, announced the pricing of their private placement of $645 million in aggregate principal amount of senior secured notes due 2023 (the 2023 Notes) to eligible purchasers (the Notes Offering). The 2023 Notes mature on June 15, 2023, will pay interest at a rate of 9.25% per year and were priced at 97.499% of par. The Notes Offering is expected to close on June 10, 2016, subject to customary closing conditions. CVR Partners intends to use the net proceeds of the Notes Offering to repay in full and terminate its outstanding credit facility, fund its previously announced tender offer and pay related fees and expenses. The securities to be offered in the Notes Offering have not been registered under the Securities Act of 1933, as amended (the Securities Act), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. CVR Partners plans to offer and sell the securities only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act.

CVR Partners, LP and CVR Nitrogen Finance Corporation Intend to Commence a Private Placement of $625.0 Million Amount of Senior Secured Notes Due 2023

On May 31, 2016, the CVR Partners, LP and its indirect, wholly owned subsidiary, CVR Nitrogen Finance Corporation, intend to commence a private placement of $625.0 million aggregate principal amount of senior secured notes due 2023.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
August 10, 2015
Rentech Nitrogen Partners, L.P.
 

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