Calumet issues $100M 9.75% senior notes due 2028; proceeds to redeem higher-cost 11% notes

Calumet, Inc. /DE

Issued $100M aggregate of 9.75% Senior Notes due 2028 at 98% of par; net proceeds ~$96.2M.
Proceeds to redeem portion of outstanding 11.00% Senior Notes due 2026 on or before April 15, 2025.
Notes mature July 15, 2028; interest semi-annual beginning July 15, 2025.
Notes guaranteed by Calumet Inc., Calumet GP, and most Partnership subsidiaries.
Redemption prices: 104.875% in 2025, 102.438% in 2026, 100% thereafter; equity clawback at 109.75%.

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