Calumet closes $325M offering of 2027 senior unsecured notes

In Indiana, Calumet Specialty Products Partners, L.P. announced the closing of the offering for $325 million 2027 senior unsecured notes. The Partnership intends to use the net proceeds from the Offering, along with cash on hand, to fund the previously announced redemption of all outstanding 7.75% Senior Notes due 2023 and pay related expenses.

In November of 2021, Calumet announced a partnership with Oaktree Capital Management, L.P. in the form of a $300 million convertible term loan investment from Oaktree in Montana Renewables, LLC, a wholly owned unrestricted subsidiary of Calumet.  Subsequent to that announcement, in early January 2022, it closed on a $50 million investment from Stonebriar Commercial Finance finance the construction of a renewable hydrogen plant at Montana Renewables to maximize renewable diesel production and further reduce the Carbon Intensity (CI) of Montana Renewables products.