Indianapolis – October 15, 2026 -- Calumet, Inc. (NASDAQ: CLMT) will redeem $150 million of its 9.75% Senior Notes due 2028 on October 25, 2026, lifting total debt retired since July 2026 to approximately $265 million.
The Issuers, Calumet Specialty Products Partners, L.P. and Calumet Finance Corp., both wholly owned subsidiaries, will pay a cash redemption price of 102.438% of principal, plus accrued and unpaid interest to but not including the redemption date. The notes (CUSIP Nos. 131477 AW1 and U13077 AM1) were originally issued in June 2023.
Calumet expects roughly $26 million in annual cash interest savings
CFO David Lunin said the $265 million of debt reduced over the past four months, including this redemption, will cut annual cash interest by approximately $26 million. He described the move as part of an effort to accelerate debt reduction and strengthen the balance sheet.
Redemption follows a $100 million call and terminal financing payoff in July
In July, the Issuers redeemed $100 million of the 9.75% Senior Notes due 2028 that were originally issued in January 2025. They also fully repaid and terminated the $15.5 million Montana terminal asset financing arrangement.
Together with the $150 million announced today, those actions account for the approximately $265 million of debt retired since July 2026.
Management points to operating momentum across two business lines
Lunin said Calumet believes its operating momentum and the current industry outlook allow it to keep deleveraging while advancing growth strategies in its Specialties and Montana Renewables businesses.
The company said its press release does not constitute a notice of redemption. The terms and conditions are set out in a notice of partial redemption distributed to holders on October 15, 2026.