05:20 AM EST, 12/13/2024 (MT Newswires) -- CVR Energy ( CVI ) said late Thursday its subsidiaries have priced a proposed $325 million senior secured term loan B due 2027.

The loan will be issued at a price equal to 99% of their face value and bear interest at the secured overnight financing rate plus 4.0%.

The deal is expected to close before the end of the year.

The company said it plans to use proceeds from the loan primarily for capital expenditures, including a planned turnaround at its Coffeyville refinery next year.

The company also said it is negotiating the possible sale of its interests in one of its midstream assets for less than $100 million.