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Calumet Completes Offering of $150 Million of Additional 9.75% Senior Notes due 2031
INDIANAPOLIS, March 17, 2026 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) (the "Company" or "Calumet") today announced that its wholly owned subsidiaries,
About this update from Calumet, Inc
[{"type":"text","content":"INDIANAPOLIS, March 17, 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\"), closed their private placement (the \"Offering\") under Rule 144A and Regulation S under the Securities Act of 1933, as amended, of $150 million in aggregate principal amount of 9.75% Senior Notes due 2031 (the \"Additional Notes\"). The Additional Notes were issued at 105% of par, plus accrued interest from January 12, 2026, for net proceeds of approximately $154.9 million, after deducting the initial purchasers' discount, estimated offering expenses and accrued interest.\nAs previously announced, Calumet intends to use the net proceeds from the Offering to repay outstanding borrowings under its revolving credit facility immediately. The Additional Notes constitute a further issuance of the Issuers' 9.75% Senior Notes due 2031, of which $405 million in aggregate principal amount were issued on January 12, 2026 (the \"Existing Notes\"). The Additional Notes form a single series with, and have the same terms (other than the initial offering price) as, the Existing Notes.\"Following our strong financial and operational performance in 2025, our priorities remain clear: continue to generate strong cash flow in a favorable margin environment while unlocking additional value at Montana Renewables as we advance our MaxSAF® 150 expansion,\" said David Lunin, CFO. \"This transaction builds on the success of our notes issuance earlier this year, with proceeds used to immediately reduce our revolver, providing ample flexibility in what's expected to continue as a volatile and highly profitable commodity environment. Ultimately, we expect to use the additional liquidity provided by this offering to reduce our 2028 notes when the call premium steps down in July.\"About CalumetCalumet, Inc. (NASDAQ: CLMT) manufactures, formulates and markets a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. Calumet is headquartered in Indianapolis, Indiana and operates twelve facilities throughout North America.Cautionary Statement Regarding Forward-Looking StatementsCer...