INDIANAPOLIS, Jan. 23,
2024 /PRNewswire/ -- Calumet Specialty Products
Partners, L.P. (NASDAQ: CLMT) (the "Partnership," "Calumet,"
"Company," "we," "our" or "us"), announced two financing
transaction updates today. These financings replace the Company's
previous Supply and Offtake Agreements ("SOA") that provided
financing for our Shreveport and Montana Refining facilities.
The Shreveport SOA has been replaced with a new SOA that we entered
into with J. Aron on January 17,
2024. Additionally, we increased the size of our Asset Backed
Loan ("ABL") facility to support the inventories previously
provided for under the Montana Refining SOA. We also included the
Refinery Assets at Great Falls to
increase the availability under the ABL
facility.
Together, these financings provide a wholistic, simpler and more
cost-effective solution to managing our inventory and working
capital needs while also increasing the availability under our
ABL.
For more information about these transactions, please see the
Form 8-K that we filed with the Securities and Exchange
Commission.
About Calumet
Calumet manufactures, formulates, and
markets a diversified slate of specialty branded products and
renewable fuels to customers across a broad range of
consumer-facing and industrial markets. Calumet is headquartered in
Indianapolis, Indiana and operates
twelve facilities throughout North
America.
About Montana Renewables
Montana Renewables, LLC is an
unrestricted subsidiary of Calumet located in Great Falls, MT. Montana Renewables is
permitted to pretreat and convert 15,000 barrels per stream day
("bpsd"; permit capacity) of renewable feedstocks into low-emission
sustainable alternatives that directly replace fossil fuel
products. MRL is a leader in North
America's energy transition and the largest Sustainable
Aviation Fuel producer in the western hemisphere. The
renewable fuel products produced by Montana Renewables are
distributed into renewable markets in the western half of
North America.
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SOURCE Calumet Specialty Products Partners, L.P.