Calumet Inc. Redeems 150 Million in Senior Notes

Calumet, Inc. announced that its subsidiaries, Calumet Specialty Products Partners, L.P. and Calumet Finance Corp., will redeem 150 million dollars of 9.75% Senior Notes due 2028. The redemption is scheduled for completion on October 25, 2026, at a cash price of 102.438% of the principal amount plus accrued interest.

These notes were originally issued in June 2023. This move follows a series of debt reductions since July 2026, including a 100 million dollar redemption of similar notes and the repayment of a 15.5 million dollar Montana terminal asset financing arrangement.

In total, the company has retired approximately 265 million dollars of debt since July, which is expected to generate annual cash interest savings of roughly 26 million dollars. Chief Financial Officer David Lunin stated that the announcement reinforces the company's commitment to accelerating debt reduction, strengthening the balance sheet, and reducing interest expense.