secwatch.observer — SEC 8-K summary
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Issuer:     Calumet Specialty Products Partners, L.P. (—)
CIK:        0001340122
Form:       8-K
Filed at:   2023-04-25T23:59:59+00:00
Accession:  0001340122-23-000046
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Calumet's Montana Renewables completes SAF startup, secures $75M bridge loan from I Squared Capital
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1340122/000134012223000046/0001340122-23-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1340122/000134012223000046/clmt-20230419.htm
  HTML page:      https://secwatch.observer/filing/0001340122-23-000046

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