On March 17, 2026, Calumet, Inc. announced the successful completion of a private placement of $150 million in aggregate principal amount of its 9.75% Senior Notes due 2031. The offering was conducted under Rule 144A and Regulation S of the Securities Act of 1933. The Additional Notes were issued at 105% of par, yielding net proceeds of approximately $154.9 million after deducting the initial purchasers' discount and estimated offering expenses. The company plans to utilize these proceeds to repay outstanding borrowings under its revolving credit facility, thereby enhancing its liquidity position. This issuance follows a previous offering of $405 million in Senior Notes completed on January 12, 2026, indicating a strong demand for Calumet's debt instruments. CFO David Lunin emphasized the company's commitment to generating robust cash flow and maintaining flexibility in a volatile commodity environment. The Additional Notes will mature on February 15, 2031, with interest payable semi-annually, starting August 15, 2026. This strategic move is expected to bolster Calumet's financial stability and operational capabilities as it continues to navigate the market.

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