Calumet, Inc. has announced the pricing of a $150 million private placement of additional 9.75% senior notes due 2031. The additional notes, which mature on February 15, 2031, will be issued at 105% of par. This offering is expected to close on March 17, 2026. The company intends to use the net proceeds from the offering to repay outstanding borrowings under its revolving credit facility.
It's worth noting that these additional notes constitute a further issuance of the issuers' 9.75% senior notes due 2031, of which $405 million in aggregate principal amount were issued on January 12, 2026. The additional notes will form a single series with, and have the same terms (other than the initial offering price) as, the existing notes.
This press release emphasizes that the securities to be sold have not been registered under the securities act, or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, 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 to non-U.S. persons outside the United States pursuant to regulation s under the securities act.
Lastly, it is important to remember that this press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful.
As a result of these announcements, the company's shares have moved -1.12% on the market, and are now trading at a price of $20.33. If you want to know more, read the company's complete 8-K report here.
