CVR Energy Sets IPO Terms

CVR Energy Inc., a Sugar Land, Texas-based producer of ammonia and urea-ammonia nitrate, has set its IPO terms to 18.5 million common shares being offered at between $18 and $20 per share. It would have an initial market cap of approximately $1.63 billion, were it to price at the high end of its range. The number of shares offered represents an increase from CVR's prior filing, in which it planned to offer 15.5 million shares. It plans to trade on the NYSE under ticker symbol CVI, while Goldman Sachs and Deutsche Bank are serving as co-lead underwriters. Shareholders include Goldman Sachs and Kelso & Company.