secwatch.observer — SEC 8-K summary
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Issuer:     Calumet Specialty Products Partners, L.P. (—)
CIK:        0001340122
Form:       8-K
Filed at:   2023-06-29T23:59:59+00:00
Accession:  0001193125-23-178659
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Calumet issues $325M 9.75% senior notes due 2028, tenders $121M of 2024/2025 notes
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- Issued $325M of 9.75% Senior Notes due 2028 at par, net proceeds ~$319.1M after discounts and expenses.
- Used ~$125.5M of proceeds on June 28 to buy back $21M of 9.25% 2024 secured notes and $100M of 11.00% 2025 notes.
- Tendered 2025 notes oversubscribed; accepted only $100M of $183.5M tendered, at ~54.5% proration.
- Plans to redeem remaining 2024 secured notes after July 15, 2023 at par plus accrued interest.
- New notes mature July 15, 2028, with semi-annual interest payments starting Jan 15, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1340122/000119312523178659/0001193125-23-178659-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1340122/000119312523178659/d506390d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-178659

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