CVR Refining to buy back Coffeyville 10 7/8% notes via stock proceeds

By Ashley Montgomery

Kansas City, Kan., Oct. 1 - CVR Refining LP plans to use the proceeds from its offering of common units to repurchase the 10 7/8% senior secured notes due 2017 issued by Coffeyville Resources LLC, according to a filing with the Securities and Exchange Commission.

Proceeds will also be used to prefund some maintenance and environmental capital expenditures through 2014, to fund the turnaround expenses of CVR's Wynewood refinery in the fourth quarter and for general corporate purposes.

Coffeyville Resources and CVR Refining are both subsidiaries of CVR Energy Inc., a Sugar Land, Texas-based refiner and marketer of transportation fuels and producer of nitrogen fertilizers.

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