Calumet prices $405M upsized private placement of 9.75% senior notes due 2031; redeems 2026/2027 notes

Calumet, Inc. /DE

$405M aggregate principal of 9.75% Senior Notes due 2031, upsized from $350M, priced at 98.996% of par.
Net proceeds of ~$393M (after discount/expenses) plus cash/credit facility to redeem all 11% 2026 and 8.125% 2027 notes.
Closing expected January 12, 2026; redemption expected on or before January 21, 2026.
Issued by Calumet Specialty Products Partners and Calumet Finance Corp.; BofA Securities acted as representative of initial purchasers.

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