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CVR Energy to redeem some 9¼% notes due 2023 with new note proceeds
By Rebecca Melvin
Concord, N.H., June 8 – CVR Partners LP plans to redeem some of its $645 million outstanding 9¼% senior secured notes due 2023, according to a press release.
The notes will be redeemed on June 23 at par plus accrued interest to the redemption date.
The redemption will be financed using proceeds from a new offering of $550 million senior secured notes due 2028.
The redemption is conditioned on the new issue resulting in gross proceeds of at least $550 million.
Wilmington Trust, NA is trustee for the 2023 notes and serving as the paying agent for the partial redemption.
CVR is a Sugar Land, Tex.-based diversified holding company.
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