Calumet to start roadshow Monday for $550 million 5.5-year notes

By Paul A. Harris

Portland, Ore., Sept. 20 – Calumet Specialty Products Partners, LP and its wholly owned subsidiary, Calumet Finance Corp., plan to start a roadshow on Monday in New York for a $550 million offering of 5.5-year senior notes (Caa1/B-/B-), according to a market source.

An investor conference call is also scheduled for Monday.

The roadshow travels to Boston on Tuesday and to the West Coast of the United States on Wednesday and Thursday.

The Rule 144A for life notes offering is set to price thereafter.

Barclays is the left lead bookrunner. BofA Securities Inc., Wells Fargo Securities LLC and BMO Securities are the joint bookrunners.

Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, BBVA Securities Inc., Regions Securities Inc., U.S. Bancorp Investments Inc., Goldman Sachs & Co. LLC, Guggenheim and Seaport Global are the co-managers.

The notes become callable after two years at par plus 50% of the coupon.

The Indianapolis-based master limited partnership and a producer of fuel products and specialty hydrocarbon products plans to use the proceeds, along with a draw on its revolving credit facility and cash on hand, to redeem its 6½% senior notes due April 2021 in their entirety.

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