NYSE:CVIOil and Gas
Is CVR Energy’s (CVI) Shift to Unsecured, Longer‑Dated Debt Quietly Rewriting Its Risk Profile?
CVR Energy has priced a past private placement of US$600 million in 7.500% senior unsecured notes due 2031 and US$400 million in 7.875% senior unsecured notes due 2034, with proceeds earmarked to repay its senior secured term loan and redeem portions of 2028 and 2029 notes.
This refinancing shifts the company toward longer‑dated, senior unsecured funding backed by subsidiary guarantees, reshaping its balance sheet structure and debt maturity profile.
We’ll now examine how this large...