Citgo Proposes Senior Secured Notes Offering

(Citgo, 3.Feb.2021) — Citgo Petroleum Corporation has commenced a private offering exempt from the registration requirements of the Securities Act of 1933, as amended, $650mn aggregate principal amount of senior secured notes due 2026.

The notes offering is subject to market and other conditions, and there is no assurance that the offering will be completed or, if completed, as to the terms on which it will be completed.

Citgo intends to use the total net proceeds from the sale of the notes, together with cash on hand, to redeem all $650mn of its 6.25% senior secured notes due 15 Aug. 2022. The redemption of the 2022 notes is contingent upon the consummation of the notes offering.

About Citgo Petroleum Corporation

Headquartered in Houston, Texas, Citgo Petroleum Corporation owns and operates three large-scale, highly complex refineries, with a combined crude capacity of approximately 769,000 barrels-per-day, located in Lake Charles, Louisiana; Lemont, Illinois; and Corpus Christi, Texas, has ownership/equity interest in 40 active refined product storage and transfer terminals, and has access to over 120 third-party and related party terminals through exchange, terminaling and similar arrangements.