Calumet prices $150 million senior notes at 105% of par

Calumet, Inc. (NASDAQ: CLMT) announced that its subsidiaries priced a private placement of $150 million in 9.75% Senior Notes due 2031 at 105% of par value. The offering is expected to close March 17, subject to customary closing conditions.

The company plans to use net proceeds to repay outstanding borrowings under its revolving credit facility. The notes mature February 15, 2031.

These additional notes represent a further issuance of existing 9.75% Senior Notes due 2031, of which $405 million in aggregate principal amount were issued January 12. The additional notes will form a single series with the existing notes and carry identical terms except for the initial offering price.

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

Calumet manufactures specialty branded products and renewable fuels for consumer-facing and industrial markets. The Indianapolis-based company operates twelve facilities throughout North America.

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