Calumet Specialty Products (CLMT) has released an update.
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Calumet Specialty Products Partners, L.P. and its affiliates have sealed a deal with institutional investors to sell $200 million worth of 9.25% Senior Secured First Lien Notes, maturing in 2029, in a private placement. Slated to close on March 7, 2024, the transaction aims to pay off the Partnership’s existing debts due in 2024 and 2025. This strategic financial move is expected to streamline the company’s debt profile by leveraging the proceeds from these newly issued notes.
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