Calumet (CLMT) Closes $150M Private Placement of Senior Notes

AI Summary

Calumet Inc. (CLMT) closed a private placement of $150 million in 9.75% Senior Notes due 2031 on March 17. The notes were issued at 105% of their par value, leading to net proceeds of approximately $154.9 million after discounts and expenses. The capital raised will be used to repay outstanding borrowings under its revolving credit facility, enhancing financial flexibility in a volatile commodity market. This deal also follows a strong operational performance in 2025 and aligns with plans to reduce 2028 notes debt when the call premium decreases in July.