Calumet announced the pricing of $405 million in aggregate principal amount of 9.75% Senior Notes due 2031.
The offering was upsized from the original size to $405 million.
Proceeds will be used for redeeming outstanding Senior Notes due in 2026 and 2027.
Private Placement Pricing
Calumet priced $405 million in Senior Notes at 9.75% due 2031, issued at 98.996% of par.
Use of Proceeds
Net proceeds, alongside cash and credit facility borrowings, will redeem outstanding Senior Notes due 2026 and 2027.
Regulatory Compliance
The securities will be sold under Rule 144A and Regulation S to qualified institutional buyers and non-U.S. persons.
- Calumet's private placement of Senior Notes signals a strategic move to optimize its capital structure.
- The planned redemption of outstanding Senior Notes demonstrates a proactive approach to managing debt obligations.
Calumet's successful pricing of the private placement and strategic use of proceeds reflect a prudent financial management approach.