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AI brief of an SEC Form 8-K · CVR Energy (CVI)

CVR Energy plans ~$4.2 billion acquisition of MPC refineries, lender meeting set for Nov 9

Mixed Impact 5 of 5 m&a

CVR Energy will meet potential lenders on November 9, 2026 about a proposed Term Loan B secured credit facility. The lender presentation describes a potential transaction with Marathon Petroleum Corporation to acquire the St. Paul Park and Mandan refineries and related assets for about $4.2 billion, and it is marked as a preliminary draft, so the deal is not yet final.

Key points

  • Lender meeting scheduled for November 9, 2026 for a proposed Term Loan B secured credit facility
  • Presentation says the ~$4.2 billion acquisition would be funded with ~$1.5 billion senior secured Term Loan B, ~$1.0 billion of other secured debt, and a mix of equity, cash on hand, crude intermediation and an ABL draw
  • Target assets are the St. Paul Park, Minnesota and Mandan, North Dakota refineries; pro forma LTM Q3'26 EBITDA is ~$1.9 billion, with an implied acquisition multiple of ~3.6x LTM EBITDA
  • Company expects ~2.0x LTM Q3'26 Debt/EBITDA after the transaction

The filing

CompanyCVR Energy (CVI)
Form8-K, current report
Filed with the SECNov 9, 2026, 8:00 AM ET
Accession number0001193125-26-452694

Items reported: 7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:25 AM ET, from this filing only.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.