Calumet Raises $150M in Private Debt Placement

Calumet Specialty Products Partners, L.P., a leading producer of specialty hydrocarbon and fuel products, has announced the pricing of a $150 million private placement of additional 9.75% senior notes due 2031, according to a press release from the company. The notes were issued as additional notes under Calumet's existing indenture and will be fungible with the $500 million aggregate principal amount of 9.75% senior notes due 2031 that were previously issued. The company intends to use the net proceeds from the offering for general corporate purposes, which may include funding capital expenditures, repaying indebtedness, and financing working capital and potential acquisitions. 'This transaction further strengthens our balance sheet and provides additional financial flexibility to execute on our strategic growth initiatives,' said Tim Go, Chief Executive Officer of Calumet. 'We continue to see attractive opportunities to invest in our business and create long-term value for our shareholders.' The private placement is expected to close on March 26, 2026, subject to customary closing conditions. Calumet's shares trade on the NASDAQ exchange under the ticker symbol CLMT.