Calumet, Inc. (NASDAQ: CLMT) announced its subsidiaries intend to offer $150 million in aggregate principal amount of 9.75% Senior Notes due 2031 through a private placement, subject to market conditions.

The Indianapolis-based company stated it plans to use net proceeds from the offering to repay outstanding borrowings under its revolving credit facility.

The new notes will constitute an additional issuance of the issuers' existing 9.75% Senior Notes due 2031, of which $405 million in aggregate principal amount were issued on January 12, 2026. The additional notes will form a single series with the existing notes and have the same terms, except for the initial offering price.

Calumet Specialty Products Partners, L.P. and Calumet Finance Corp., both wholly owned subsidiaries of Calumet, will serve as the issuers for the private placement.

The securities will be offered to qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States under Regulation S of the Securities Act of 1933. The notes have not been registered under the Securities Act or state securities laws.

Calumet manufactures, formulates and markets specialty branded products and renewable fuels to customers across consumer-facing and industrial markets. The company operates twelve facilities throughout North America.