Calumet, Inc. completed an upsized Notes Offering under Rule 144A and Regulation S.
The Offering included $405 million in aggregate principal amount of 9.75% Senior Notes due 2031 issued at 98.996% of par.
Net proceeds from the Offering were approximately $393 million after deducting expenses.
Upsized Offering
Notes offering increased from $350 million to $405 million.
Use of Proceeds
Proceeds to redeem outstanding 11.00% Senior Notes due 2026 and 8.125% Senior Notes due 2027.
Value Creation Strategy
Focus on debt reduction, operational improvements, and continued cash flow for value creation.
- The Offering's success indicates strong investor interest in Calumet's securities.
- The use of proceeds to eliminate near-term senior note maturities enhances financial stability.
Calumet's successful Notes Offering and strategic use of proceeds reflect a positive outlook for the company's financial position and growth.