Calumet, Inc. /DE 8-K

What Happened Calumet, Inc. announced on January 23, 2026 that it entered into a Ninth Amendment to its Third Amended and Restated Credit Agreement. The amendment extends the credit agreement maturity date to January 23, 2031, provides for aggregate commitments of $500.0 million (subject to borrowing base limits), and revises covenants and other terms to allow the Company or certain subsidiaries to enter into new inventory financing transactions. The full amendment is filed as Exhibit 10.1 to the 8-K.

Key Details

• Amendment date: January 23, 2026; new maturity date: January 23, 2031.
• Commitments: $500.0 million subject to borrowing base limitations; commitments would be reduced to $425.0 million if any approved inventory financing transaction is consummated.
• Permits: Revisions to covenants, representations, warranties and events of default to allow one or more new inventory financing transactions by the Company or subsidiaries (subject to customary conditions).
• Lenders/agent: Amendment amends the existing Credit Agreement among Calumet entities, the lenders and Bank of America, N.A., as administrative agent.

Why It Matters This amendment secures longer-term access to revolving credit capacity and flexibility for Calumet through 2031, which can support working capital, liquidity and operational needs. The $500M commitment level (and its potential reduction to $425M if inventory financings occur) affects the company’s available credit and could change the composition of its funded obligations. Investors should note the company also reported Item 2.03 (creation of a direct financial obligation) in connection with potential inventory financing transactions, which could increase consolidated debt or create separate secured financing arrangements if consummated. For full terms and legal detail, refer to Exhibit 10.1 of the 8-K.