Calumet specialty products partners, l.p. announces pricing of $550 million private placement of 11.00% senior notes due 2025

Calumet specialty products partners, l.p. and its wholly-owned subsidiary calumet finance corp. announced the pricing of their private placement under rule 144a and regulation s of the securities act of 1933, as amended, of $550 million in aggregate principal amount of 11.00% senior unsecured notes due 2025. the notes mature on april 15, 2025 and will be issued at par. the offering is expected to close on october 11, 2019, subject to customary closing conditions. calumet intends to use the net proceeds from the offering, together with borrowings under its revolving credit facility and cash on hand, to fund the previously announced redemption of all of its outstanding 6.50% senior notes due 2021. the securities to be sold have not been registered under the securities act, or any state securities laws, and unless so registered, the securities may not be offered or sold in the united states except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the securities act and applicable state securities laws. calumet plans to offer and sell the securities only to qualified institutional buyers pursuant to rule 144a under the securities act and to persons outside the united states pursuant to regulation s under the securities act.
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