INDIANAPOLIS, April 10, 2018 /PRNewswire/ -- Calumet Specialty
Products Partners, L.P. (NASDAQ: CLMT) (the "Partnership" or
"Calumet"), a leading independent producer of specialty hydrocarbon
and fuels products, and its wholly owned subsidiary Calumet Finance
Corp., announced today that it has completed the early redemption
of all of the $400 million aggregate
principal amount of its outstanding 11.5% Senior Secured Notes due
2021 (the "Secured Notes"). In accordance with the conditions set
forth in the April 20, 2016 indenture
governing the Secured Notes (the "Indenture"), the Partnership paid
the redemption price of 100% of the principal amount, plus accrued
and unpaid interest, and a Make Whole Premium (as defined in the
Indenture).
"The early redemption of our Secured Notes is indicative of the
meaningful progress that Calumet has made in our turnaround
efforts" said West Griffin, Chief Financial Officer of Calumet.
"The redemption of the Secured Notes, which carried a high interest
coupon and restrictive covenants, is an essential step towards the
continued improvement to our capital structure and will further
provide the Partnership with greater ability to capitalize on
future opportunities."
About Calumet Specialty Products Partners, L.P.
Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) is a
master limited partnership and a leading independent producer of
high-quality, specialty hydrocarbon products in North America. Calumet processes crude oil and
other feedstocks into customized lubricating oils, solvents and
waxes used in consumer, industrial and automotive products;
produces fuel products including gasoline, diesel and jet fuel.
Calumet is based in Indianapolis,
Indiana, and operates eleven manufacturing facilities
located in northwest Louisiana,
northern Montana, western
Pennsylvania, Texas, New
Jersey and eastern Missouri.
Forward-Looking Statements
This press release includes forward-looking statements as
defined under federal law. Although we believe that our
expectations are based upon reasonable assumptions, no assurance
can be given that our goals will be achieved, including statements
related to the redemption of the Notes. Actual results may vary
materially. We undertake no obligation to publicly update or revise
any forward-looking statement.
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SOURCE Calumet Specialty Products Partners, L.P.