Calumet Specialty Products issues conditional call for 6½% notes

By Wendy Van Sickle

Columbus, Ohio, Sept. 20 – Calumet Specialty Products Partners, LP issued a conditional call to fully redeem its 6½% senior notes due 2021 on Oct. 21.

The redemption price will be par plus accrued interest to the redemption date.

The redemption is conditioned on Calumet completing an offering of at least $550 million of senior unsecured notes due April 2025 and the satisfaction of all conditions precedent to the effectiveness of the amendment to the partnership's revolving credit facility, dated Sept. 4. The company plans to use proceeds of the new notes, cash on hand and revolver borrowings to fund the redemption.

Calumet is an Indianapolis-based master limited partnership and a producer of fuel products and specialty hydrocarbon products.

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