Calumet to redeem $150M in senior notes, cutting debt by $265M

Calumet, Inc. (NASDAQ: CLMT) announced that its subsidiaries, Calumet Specialty Products Partners, L.P. and Calumet Finance Corp., have issued a notice to redeem $150 million of outstanding 9.75% Senior Notes due 2028, originally issued in June 2023.

The redemption is scheduled for Oct. 25, 2026, at a cash redemption price of 102.438% of the principal amount, plus accrued and unpaid interest up to but not including the redemption date.

According to the company, in July 2026, the same subsidiaries redeemed $100 million of 9.75% Senior Notes due 2028 that were originally issued in January 2025, and fully repaid and terminated a $15.5 million Montana terminal asset financing arrangement. Combined with the latest redemption, Calumet states it will have retired approximately $265 million of debt since July 2026.

David Lunin, CFO, said the $265 million in debt reduction over the past four months "will result in an annual cash interest savings of approximately $26 million."

Calumet is headquartered in Indianapolis, Indiana, and operates twelve facilities throughout North America.

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