{"schema_version":"secwatch.filing_event.v1","accession":"0001340122-23-000046","form_type":"8-K","ticker":null,"cik":"0001340122","company_name":"Calumet Specialty Products Partners, L.P.","filed_at":"2023-04-25T23:59:59+00:00","discovered_at":"2026-05-14T18:03:38.504078+00:00","generated_at":"2026-06-16T15:53:10.771126+00:00","sec_items":["1.01","7.01","2.03","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Calumet's Montana Renewables completes SAF startup, secures $75M bridge loan from I Squared Capital","bullets":["MRL completed startup of SAF and pretreatment units; full operations of SAF, renewable diesel, and renewable hydrogen platform.","Reconfirms go-forward EBITDA guidance of $1.25-$1.45 per gallon based on local untreated feedstocks.","Closed $75M bridge loan with I Squared Capital; variable rate SOFR+6.0-7.3% per annum; prepay 50% of principal from free cash flow by end 2024.","Ribbon cutting ceremony planned for May 10, 2023 with SAF off-taker.","CEO Todd Borgmann highlights full earnings power of Montana Renewables added to legacy Specialty business."],"urls":{"canonical":"https://secwatch.observer/filing/0001340122-23-000046","json":"https://secwatch.observer/filing/0001340122-23-000046.json","markdown":"https://secwatch.observer/filing/0001340122-23-000046.md","text":"https://secwatch.observer/filing/0001340122-23-000046.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1340122/000134012223000046/0001340122-23-000046-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1340122/000134012223000046/clmt-20230419.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-16T15:53:10.771126+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"2d4457afc6469219eec66812dfab5f78a0ba44e5","claim":"Calumet Specialty Products Partners, L.P. incurred term loan of $75 million with I Squared Capital and the Administrative Agent (Delaware Trust Company) at Secured Overnight Financing Rate (\"SOFR\") plus 6.0% to 7.3% per annum maturing April 19, 2028.","evidence_excerpt":"On April 19, 2023, MRL and Holdings entered into a Credit Agreement (the “Term Loan Credit Agreement”) with a group of financial institutions, including I Squared Capital and the Administrative Agent, that provides for a $75 million term loan facility with a maturity date of April 19, 2028 (the “Maturity Date”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1340122/000134012223000046/0001340122-23-000046-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$75 million"},{"label":"Counterparty","value":"I Squared Capital and the Administrative Agent (Delaware Trust Company)"},{"label":"Rate","value":"Secured Overnight Financing Rate (\"SOFR\") plus 6.0% to 7.3% per annum"},{"label":"Maturity","value":"April 19, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"31a4e58eb0fed3a2d5ca86d0588daaa71315bd03","claim":"Calumet Specialty Products Partners, L.P. entered into Term Loan Credit Agreement with a group of financial institutions, including I Squared Capital and the Administrative Agent valued at $75 million (effective 2023-04-19).","evidence_excerpt":"On April 19, 2023, MRL and Holdings entered into a Credit Agreement (the “Term Loan Credit Agreement”) with a group of financial institutions, including I Squared Capital and the Administrative Agent, that provides for a $75 million term loan facility with a maturity date of April 19, 2028","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1340122/000134012223000046/0001340122-23-000046-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"a group of financial institutions, including I Squared Capital and the Administrative Agent"},{"label":"Value","value":"$75 million"},{"label":"Effective","value":"2023-04-19"}],"fact_type":"material_agreement"},{"claim_id":"87032721d44ea04041d8e06aaed8133887b05a9e","claim":"Calumet Specialty Products Partners, L.P. amended First Amendment with Wells Fargo Bank, National Association (effective 2023-04-19).","evidence_excerpt":"Amendment No. 1 (the “First Amendment” and, together with the Second Amendment, the “Amendments”) to the Guaranty and Security Agreement, dated as of November 2, 2022","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1340122/000134012223000046/0001340122-23-000046-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Wells Fargo Bank, National Association"},{"label":"Effective","value":"2023-04-19"}],"fact_type":"material_agreement"},{"claim_id":"9e954d187fbb26e6a7e94f33998a43ced8a39a31","claim":"Calumet Specialty Products Partners, L.P. amended Second Amendment with Wells Fargo Bank, National Association (effective 2023-04-19).","evidence_excerpt":"2 (the “Second Amendment”) to the Credit Agreement, dated as of November 2, 2022, as amended, and (ii) Amendment No. 1 (the “First Amendment” and, together with the Second Amendment, the “Amendments”) to the Guaranty and Security Agreement, dated as of November 2, 2022, in each case, with Wells Fargo Bank, National Association (“Wells Fargo”), as administrative agent and lender.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1340122/000134012223000046/0001340122-23-000046-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Wells Fargo Bank, National Association"},{"label":"Effective","value":"2023-04-19"}],"fact_type":"material_agreement"},{"claim_id":"e55c2f07725f7c91bb400c5f5584eb1f651f1875","claim":"Calumet Specialty Products Partners, L.P. entered into Collateral Trust Agreement with Wilmington Trust, National Association, as collateral trustee, and Delaware Trust Company, as administrative agent (effective 2023-04-19).","evidence_excerpt":"On April 19, 2023, MRL and Montana Renewables Holdings LLC (“Holdings”), the parent company of MRL and an unrestricted, non-guarantor subsidiary of the Partnership, entered into a Collateral Trust and Intercreditor Agreement (the “Collateral Trust Agreement”) with Wilmington Trust, National Association, as collateral trustee, and Delaware Trust Company, as administrative agent (the “Administrative Agent”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1340122/000134012223000046/0001340122-23-000046-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"Wilmington Trust, National Association, as collateral trustee, and Delaware Trust Company, as administrative agent"},{"label":"Effective","value":"2023-04-19"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}