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Calumet Announces Pricing of $405 Million Upsized Private Placement of 9.75% Senior Notes due 2031
Calumet, Inc. (NASDAQ: CLMT) (the "Company" or "Calumet") today announced that its wholly owned subsidiaries, Calumet Specialty Products Partners, L.P. (the "Partnership") and Calumet Finance Corp. (together with the Partnership, the "Issuers"), priced their private placement (the "Offering") under Rule 144A and Regulation S under the Securities Act of 1933, as amended (the "Securities Act"), of $405 million in aggregate principal amount of 9.75% Senior Notes due 2031 (the "Notes"). The Notes ma
About this update from Calumet, Inc
[{"type":"text","content":"INDIANAPOLIS, Jan. 7, 2026 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) (the "Company" or "Calumet") today announced that its wholly owned subsidiaries, Calumet Specialty Products Partners, L.P. (the "Partnership") and Calumet Finance Corp. (together with the Partnership, the "Issuers"), priced their private placement (the "Offering") under Rule 144A and Regulation S under the Securities Act of 1933, as amended (the "Securities Act"), of $405 million in aggregate principal amount of 9.75% Senior Notes due 2031 (the "Notes"). The Notes mature on February 15, 2031 and will be issued at 98.996% of par. The Offering is expected to close on January 12, 2026, subject to customary closing conditions. The Offering was upsized to $405 million in aggregate principal amount of Notes from the original offering size of $350 million in aggregate principal amount of Notes.","length":940,"tagName":"p"},{"type":"text","content":"Calumet intends to use all of the net proceeds from the Offering, together with cash on hand and borrowings under its revolving credit facility, to redeem all of the Issuers' outstanding 11.00% Senior Notes due 2026 (the "2026 Notes") and all of the Issuers' outstanding 8.125% Senior Notes due 2027 (the "2027 Notes") (collectively, the "Redemptions").","length":391,"tagName":"p"},{"type":"text","content":"The securities to be sold will not be, and have not been, registered under the Securities Act, or any state securities laws, and unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Calumet plans to offer and sell the securities only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.","length":645,"tagName":"p"},{"type":"text","content":"This press release does not constitute a notice of redemption with respect to the 2026 Notes or the 2027 Notes. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of these sec...