CVR Energy Withdraws Registration Statement for Public Offering of Convertible Senior Notes
05 11월 2008 - 10:11PM
PR Newswire (US)
SUGAR LAND, Texas, Nov. 5 /PRNewswire-FirstCall/ -- CVR Energy,
Inc. (NYSE:CVI) announced today that it has withdrawn a
registration statement with the Securities and Exchange Commission
in connection with the proposed offering of $125 million aggregate
principal amount of CVR Energy's convertible senior notes due 2013.
(Logo: http://www.newscom.com/cgi-bin/prnh/20071203/CVRLOGO) "The
significant fall in the price of crude oil has decreased our
operating capital requirements," said Jack Lipinski, chairman,
president and chief executive officer. "When this offering was
filed on June 19, the price of crude was over $130 per barrel with
forecasts of crude rising to between $150 and $200 per barrel. Now
that crude prices have retreated along with the risk of
unprecedented price spikes, we have withdrawn this offering." CVR
Energy, an independent refiner and, through CVR Partners, LP, a
nitrogen fertilizer producer, had filed the registration statement
in June, intending to use the net proceeds from the offering for
general corporate purposes. This news release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act and Section 21E of the Securities Exchange Act of
1934, as amended. You can generally identify forward-looking
statements by our use of forward-looking terminology such as
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"intend," "may," "might," "plan," "potential," "predict," "seek,"
"should," or "will," or the negative thereof or other variations
thereon or comparable terminology. These forward-looking statements
are only predictions and involve known and unknown risks and
uncertainties, many of which are beyond our control. For a
discussion of risk factors which may affect our results, please see
the risk factors and other disclosures included in our SEC filings.
These risks may cause our actual results, performance or
achievements to differ materially from any future results,
performance or achievements expressed or implied by these
forward-looking statements. Given these risks and uncertainties,
you are cautioned not to place undue reliance on such
forward-looking statements. The forward-looking statements included
in this press release are made only as of the date hereof. The
Company undertakes no duty to update its forward-looking
statements. About CVR Energy, Inc. Headquartered in Sugar Land,
Texas, CVR Energy, Inc.'s subsidiary and affiliated businesses
include an independent refiner that operates a 115,000 barrel per
day refinery in Coffeyville, Kan., and markets high-value
transportation fuels supplied to customers through tanker trucks
and pipeline terminals; a crude oil gathering system serving
central Kansas, northern Oklahoma and southwest Nebraska; an
asphalt and refined fuels storage and terminal business in
Phillipsburg, Kan.; and, through a limited partnership, an ammonia
and urea ammonium nitrate fertilizer business located in
Coffeyville, Kan. For further information, please contact: Investor
Relations: Media Relations: Stirling Pack, Jr. Steve Eames CVR
Energy, Inc. CVR Energy, Inc. 281-207-3464 281-207-3550
http://www.newscom.com/cgi-bin/prnh/20071203/CVRLOGO
http://photoarchive.ap.org/ DATASOURCE: CVR Energy, Inc. CONTACT:
investor relations, Stirling Pack, Jr., +1-281-207-3464, , or media
relations, Steve Eames, +1-281-207-3550, , both of CVR Energy, Inc.
Web site: http://www.cvrenergy.com/
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