, /PRNewswire/ — Calumet, Inc. (NASDAQ: CLMT) (the “Company,” “Calumet,” “we,” “our” or “us”) provided an update on its recent financing activity, including the pricing by its wholly owned subsidiaries, Calumet Specialty Products Partners, L.P. (the “Partnership”) and Calumet Finance Corp., of their private placement of $100 million in aggregate principal amount of 9.75% Senior Notes due 2028 (the “Notes Offering”) and registration its $65 million at-the-market equity program (the “ATM Program”).
“Yesterday’s successful bond pricing was a targeted piece of refinancing,” said Todd Borgmann, CEO. “In conjunction with the notes offering, Calumet registered a small ATM equity facility. While we do not envision a need to issue equity, the flexible program provides a controllable, and fully optional, tool to prudently manage maturities. These financings, alongside our recently closed DOE loan and expected free cash flow provide a clear, robust, and flexible path to removing our 2026 notes, allowing us to focus on our strategic objectives of executing the …