CVR Partners, LP, a partnership formed by CVR Energy that utilizes petroleum coke to produce nitrogen fertilizer, announced terms for its IPO on Tuesday. The Sugar Land, TX-based company plans to raise $250 million by offering 19.2 million units at a price range of $12 to $14. At the mid-point of the proposed range, CVR Partners, LP will command a market value of $949 million. CVR Partners, LP, which was founded in 2007 and booked $181 million in sales last year, plans to list on the NYSE under the symbol UAN. Morgan Stanley, Barclays Capital and Goldman, Sachs & Co. are the lead underwriters on the deal, for which timing was not disclosed.
