Calumet subsidiary MRL draws $782M DOE loan; terminates Stonebriar leases and other debt

Calumet, Inc. /DE

MRL received ~$782M first tranche of $1.44B DOE guaranteed loan on Feb 18, 2025.
Repurchased hydrocracker from Stonebriar for $222M and two other facilities for ~$170M.
Repaid $83.8M term loan ($9.4M make-whole), $26.7M revolver, $32.5M inventory financing.
All prior MRL Asset Financing, Term Loan, Revolving Credit, and Inventory Financing agreements terminated.
DOE facility provides long-term financing for MRL's renewable diesel operations.

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