Calumet Announces Pricing of $100M Private Placement of 9.75% Senior Notes Due 2028 Investing.com

INDIANAPOLIS, January 14, 2025 /PRNewswire/ — Calumet, Inc. (NASDAQ: CLMT) (the “Company” or “Calumet”) announced today that its wholly owned subsidiaries, A Calumet specialty Products (NASDAQ:) Partners, LP (“Partnership”) i Calumet Finance Corp. (together with the Partnership, the “Issuers”), priced its private placement (the “Offering”) pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), 100 million dollars in the total principal amount of 9.75% Senior Bonds due in 2028 (“New Bonds”). New notes mature further July 15, 2028 and will be issued at 98% of face value. The closing of the offer is expected January 16, 2025subject to customary closing conditions.

Calumet intends to use all of the net proceeds from the Offering to redeem a portion of the Issuer’s outstanding 11.00% senior notes due 2026 (the “2026 Notes”) or earlier April 15, 2025 (“Redemption”). The new bonds are a mirror issue of the Issuer’s existing 9.75% senior bonds maturing in 2028, of which 325 million dollars The total principal amount was issued today June 27, 2023 (“Source Notes”). The New Notes will have substantially identical terms to the Original Notes. However, the New Notes will be issued under a separate indenture and will have different CUSIP numbers than the Original Notes.

The securities to be sold will not be and have not been registered under the Securities Act or any state securities law, and unless so registered, the securities may not be offered or sold in United States except pursuant to an exemption or in a transaction not subject to the registration requirements of the Securities Act and applicable state securities laws. Calumet plans to offer and sell the securities only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and non-OUR people outside United States in accordance with Regulation S under the Securities Act.

This press release does not constitute a redemption notice with respect to the 2026 Notes. This press release will not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor will there be any sale of these securities in any state where such offer, solicitation or sale would be illegal. This press release is issued in accordance with Rule 135c of the Securities Act.

About Calumet

Calumet, Inc. (NASDAQ: CLMT) manufactures, formulates and markets a diverse range of specialty brand products and renewable fuels to customers in a wide range of consumer and industrial markets. Calumet is headquartered in Indianapolis, Indiana and manages twelve facilities throughout North America.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements and information in this press release may constitute “forward-looking statements”. The words “will”, “may”, “intend”, “believe”, “expect”, “likely”, “anticipate”, “anticipate”, “estimate”, “continue”, “plan”, “should” “could “, “would” or other similar expressions are intended to identify forward-looking statements that are generally not historical in nature. Statements referred to in this press release that are not purely historical are forward-looking statements, including but not limited to the Offering and the use of proceeds therefrom and the Redemption. These forward-looking statements are based on our current expectations and beliefs regarding future developments and their potential effect on us. Although these assumptions are considered reasonable by our management, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. Accordingly, our actual results may differ materially from the future results expressed or anticipated in our forward-looking statements. For additional information about known material risks, uncertainties and other factors that may affect future results, please see our ï¬ lings with Securities Commission (“SEC“), including risk factors and other cautionary statements in the Partnership’s most recent annual report on Form 10-K and other filings with SEC by the Company and the Partnership. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.