Calumet, Inc. /DE 8-K

What Happened

• On January 6, 2026, Calumet, Inc. (CLMT) announced that its wholly owned subsidiaries, Calumet Specialty Products Partners, L.P. and Calumet Finance Corp., intend to offer $350.0 million aggregate principal amount of senior unsecured notes due 2031 in a private placement to eligible purchasers. The Company said it will use net proceeds, cash on hand and borrowings under its revolving credit facility to redeem outstanding near‑term debt.

Key Details

• Offering: $350.0 million of senior unsecured notes due 2031 (private placement).
• Redemption plan: use proceeds to redeem all outstanding 11.00% Senior Notes due 2026 on or about January 21, 2026 and $275.0 million aggregate principal of 8.125% Senior Notes due 2027 on or about January 16, 2026.
• Documentation: preliminary offering memorandum dated January 6, 2026 (furnished as Exhibit 99.1) and press release dated January 6, 2026 (Exhibit 99.2).
• Regulatory/transaction notes: the Notes will not be registered under the Securities Act and the offering is subject to market conditions and availability to eligible purchasers.

Why It Matters

• This planned offering is a refinancing move that targets near‑term maturities, shifting some debt out to 2031 and addressing scheduled redemptions in January 2026 and 2027. For investors, the action affects Calumet’s near‑term cash needs and its debt maturity profile. The offering is subject to market conditions and not guaranteed, and the notes will be privately placed and unregistered, which limits resale options. The filing also includes forward‑looking statements and the usual cautions about risks and uncertainties.