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

CVR Energy takes $325 million term loan, sells Midway Pipeline stake for $90 million

Neutral Impact 3 of 5 financing Written later

CVR Energy subsidiaries entered a $325.0 million senior secured term loan dated December 19, 2024, maturing December 30, 2027, with interest at Term SOFR plus 4.00%, and proceeds are earmarked for capital expenditures and turnaround costs. On December 23, 2024, a subsidiary sold its 50% stake in Midway Pipeline LLC to Plains Pipeline, L.P. for approximately $90 million in cash, while keeping long-term crude delivery rights to the Coffeyville refinery under a new pipeline agreement.

Key points

  • $325.0 million senior secured term loan, borrowed in full on December 19, 2024, with a 1.00% original issue discount
  • Interest at Term SOFR plus 4.00% per annum, or an alternate base rate plus 3.00%; final maturity December 30, 2027
  • Midway Pipeline 50% interest sold to Plains Pipeline, L.P. on December 23, 2024 for approximately $90 million in cash
  • Pipeline agreement with Midway lets the company deliver crude oil from Cushing, Oklahoma to the Coffeyville refinery over the long term

The filing

CompanyCVR Energy (CVI)
Form8-K, current report
Filed with the SECDec 26, 2024, 5:14 PM ET
Accession number0001376139-24-000075

Items reported: 1.01 Material Definitive Agreement2.03 New Direct Financial Obligation

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 26, 2024.

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.