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Calumet Specialty Products Partners, L.P. Announces Cash Tender Offers for Any and All of its 9.25% Senior Secured First Lien Notes due 2024 and up to $100 Million of its 11.00% Senior Notes due 2025
INDIANAPOLIS, June 12, 2023 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) ("Calumet," "we," "our" or "us"), today announced that it
About this update from Calumet, Inc
[{"type":"text","content":"INDIANAPOLIS, June 12, 2023 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) (\"Calumet,\" \"we,\" \"our\" or \"us\"), today announced that it has commenced cash tender offers to purchase (the \"Offers\") (i) any and all of its 9.25% Senior Secured First Lien Notes due 2024 (CUSIP Nos. 131477AU5 / U13077AK5) (the \"2024 Secured Notes\") and (ii) up to an aggregate principal amount not to exceed $100 million (as it may be modified by Calumet, the \"Tender Cap\"), of its outstanding 11.00% Senior Notes due 2025 (CUSIP Nos. 131477AT8 / U13077AJ8) (the \"2025 Notes\" and, together with the 2024 Secured Notes, the \"Notes\"), subject to the terms and conditions set forth in the Offer to Purchase dated June 12, 2023 (as it may be amended or supplemented from time to time, the \"Offer to Purchase\"). The following table sets forth certain terms of the Offers:\nNotes\nCUSIP Numbers\nAggregate Principal Amount Outstanding(1)\nTender Cap\nTender Offer Consideration(2)(3)\nEarly Tender Premium(2)\nTotalConsideration(2)(3)(4)\n2024 Secured Notes\n131477AU5 / U13077AK5\n$200,000,000\nN/A\n$971.25\n$30.00\n$1,001.25\n2025 Notes\n \n131477AT8 / U13077AJ8\n$513,541,000\n$100,000,000\n$1,015.00\n$30.00\n$1,045.00\n____________________\n(1)\nAs of the date of this press release.\n(2)\nU.S. dollars per $1,000 aggregate principal amount of Notes validly tendered, and not validly withdrawn, and accepted for purchase.\n(3)\nPlus accrued and unpaid interest, up to, but not including, the applicable settlement date.\n(4)\nThe Total Consideration includes the Early Tender Premium.\nThe Offers will expire at 5:00 p.m., New York City time, on July 12, 2023, unless extended or early terminated (such date and time, as the same may be extended or early terminated, the \"Expiration Date\"). Holders who validly tender their Notes, and do not validly withdraw such Notes, at or prior to 5:00 p.m., New York City time, on June 26, 2023, unless such date is extended or early terminated (the \"Early Tender Date\"), will be eligible to receive the \"Total Consideration\" set forth in the table above for each $1,000 principal amount of Notes. The Total Consideration includes the \"Early Tender Premium\" set forth in the table above. Holders who validly tender their Notes after the Early Tender Date, but at or prior to the Expiration Date, and d...