SUGAR LAND, Texas, June 9, 2016 /PRNewswire/ -- CVR Partners, LP ("CVR Partners") (NYSE: UAN) today announced the final results of the previously announced cash tender offer (the "Tender Offer") by its subsidiary CVR Nitrogen, LP (f/k/a East Dubuque Nitrogen Partners, L.P., f/k/a Rentech Nitrogen Partners, L.P.) (the "Company") to purchase any and all of the outstanding 6.500% Second Lien Senior Secured Notes due 2021 (CUSIP Nos. 76011Q AA7 and U76034 AA2) (the "Notes") issued by the Company and CVR Nitrogen Finance Corporation (f/k/a East Dubuque Finance Corporation, f/k/a Rentech Nitrogen Finance Corporation). The Tender Offer expired at 5:00 p.m., New York City time, on Wednesday, June 8, 2016.
The Company has accepted for purchase $315,245,000.00 aggregate principal amount of the Notes, representing approximately 98.51% of the total outstanding principal amount of the Notes, at a purchase price of $1,015.00 per Note, for a total cost of approximately $319,973,675.00, excluding fees and expenses relating to the Tender Offer. The Company is funding the purchase of the Notes in the Tender Offer with proceeds from the issuance of CVR Partners' $645 million aggregate principal amount of 9.250% senior secured notes due 2023, which is anticipated to close on June 10, 2016.
About CVR Partners, LP
Headquartered in Sugar Land, Texas, with manufacturing facilities located in Coffeyville, Kansas, and East Dubuque, Illinois, CVR Partners, LP is a Delaware limited partnership focused primarily on the manufacture of nitrogen fertilizers. CVR Partners' Coffeyville nitrogen fertilizer manufacturing facility is the only operation in North America that uses a petroleum coke gasification process to produce nitrogen fertilizer and includes a 1,300 ton-per-day ammonia unit, a 3,000 ton-per-day urea ammonium nitrate (UAN) unit and a dual-train gasifier complex having a capacity of 89 million standard cubic feet per day of hydrogen. CVR Partners' East Dubuque nitrogen fertilizer manufacturing facility uses natural gas to produce nitrogen fertilizer and primarily includes a 1,025 ton-per-day ammonia unit and a 1,100 ton-per-day UAN unit.
The principal executive offices of CVR Partners are located at 2277 Plaza Drive, Suite 500, Sugar Land, TX 77479 and its telephone number is 281-207-3200.
This news release contains forward-looking statements. You can generally identify forward-looking statements by our use of forward-looking terminology such as "outlook," "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 most recent Annual Report on Form 10-K, any subsequently filed Quarterly Reports on Form 10-Q and our other 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. CVR Partners disclaims any intention or obligation to update publicly or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law.
CVR Partners, LP
CVR Partners, LP
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SOURCE CVR Partners, LP