Credit Suisse First Boston andGoldman Sachs are leading an $800 million facility for Coffeyville Resources, with a bank meeting set for June 14. The deal consists of a $100 million revolver, a $150 million synthetic letter of credit facility, a $275 million term loan "B" and a $275 million second-lien term loan. Pricing and maturities have not been determined.
Coffeyville's assets were originally operated as a small component of agricultural co-operative Farmland Industries. Farmland filed for bankruptcy in May 2002 and Coffeyville Resources won the bankruptcy court auction for Farmland's petroleum business and a nitrogen fertilizer plant. The purchase was completed in March 2004. On April 15 the Kansas City-based company filed with the Securities and Exchange Commission announcing its intention to do an Initial Public Offering.