{"id":77658,"date":"2024-03-12T16:44:19","date_gmt":"2024-03-12T21:44:19","guid":{"rendered":"https:\/\/equitynewsreport.com\/calumet-closes-200-million-notes-offering-to-pay-debt\/"},"modified":"2024-03-12T16:44:19","modified_gmt":"2024-03-12T21:44:19","slug":"calumet-closes-200-million-notes-offering-to-pay-debt","status":"publish","type":"post","link":"https:\/\/equitynewsreport.com\/h\/calumet-closes-200-million-notes-offering-to-pay-debt\/","title":{"rendered":"Calumet closes $200 million notes offering to pay debt"},"content":{"rendered":"<div readability=\"65\">\n<div id=\"imgCarousel\" class=\"imgCarousel\">\n<img decoding=\"async\" alt=\"Calumet closes $200 million notes offering to pay debt\" id=\"carouselImage\" src=\"https:\/\/i-invdn-com.investing.com\/news\/LYNXNPEC0E0NI_L.jpg\"><br \/>\n<span class=\"text\">\u00a9 Reuters. <\/span><br \/>\n<i class=\"imgGrad\"><\/i>\n<\/div>\n<p>INDIANAPOLIS &#8211; <span itemscope=\"\" itemtype=\"http:\/\/schema.org\/Corporation\"><span itemprop=\"name\"> Calumet Specialty <\/span><\/span> Products (NASDAQ:) Partners, L.P. (NASDAQ: CLMT), along with its subsidiary Calumet Finance Corp., has successfully closed a $200 million offering of 9.25% Senior Secured First Lien Notes due in 2029. The private placement saw the notes issued at par, garnering proceeds of $200 million before estimated transaction expenses.<\/p>\n<p>The company detailed that the net proceeds from the offering were used to retire all of their outstanding 9.25% Senior Secured First Lien Notes due 2024. Moreover, Calumet plans to utilize the remaining proceeds, in conjunction with available cash, to redeem $50 million of their 11.00% Senior Notes due 2025.<\/p>\n<p>Todd Borgmann, CEO of Calumet, expressed satisfaction with the transaction, noting that it allowed the company to extend a significant portion of its near-term maturities, reduce total interest expense, and enhance financial flexibility to support its deleveraging strategy.<\/p>\n<p>Calumet Specialty Products Partners, L.P. is an Indianapolis-based manufacturer and marketer of specialized branded products and renewable fuels, operating across diverse consumer and industrial markets with twelve facilities in North America.<\/p>\n<p><em>This article was generated with the support of AI and reviewed by an editor. For more information see our T&#038;C.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a9 Reuters. INDIANAPOLIS &#8211; Calumet Specialty Products (NASDAQ:) Partners, L.P. (NASDAQ: CLMT), along with its subsidiary Calumet Finance Corp., has successfully closed a $200 million offering of 9.25% Senior Secured First Lien Notes due in 2029. The private placement saw the notes issued at par, garnering proceeds of $200 million before estimated transaction expenses. The company detailed that the net proceeds from the offering were used to retire all of their outstanding 9.25% Senior Secured First Lien Notes due 2024. Moreover, Calumet plans to utilize the remaining proceeds, in conjunction with available cash, to redeem $50 million of their 11.00% [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":77659,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,49,50,3],"tags":[],"_links":{"self":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts\/77658"}],"collection":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/comments?post=77658"}],"version-history":[{"count":0,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts\/77658\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/media\/77659"}],"wp:attachment":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/media?parent=77658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/categories?post=77658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/tags?post=77658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}