Deal Description: On September 27, 2019, Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) (“Calumet”) and its wholly owned subsidiary Calumet Finance Corp. announced the pricing of a private placement of $550 million in aggregate principal amount of 11.00% Senior Notes due 2025 (the “Notes”) under Rule 144A and Regulation S of the Securities Act of 1933, as amended. The Notes will be guaranteed by certain subsidiaries of Calumet. The offering is expected to close on October 11, 2019, subject to the satisfaction of customary closing conditions.

Calumet intends to use the net proceeds from the offering, together with borrowings under its revolving credit facility and cash on hand, to fund the redemption of all of its outstanding 6.50% Senior Notes due 2021.

Baker Botts L.L.P. represented the initial purchasers in the offering.

Value: $550 million

Baker Botts Lawyers/Office Involved:

• Corporate: A.J. Ericksen (Partner, Houston); Justin Hoffman (Partner, Houston); Josh Davidson (Partner, Houston); Eileen Boyce (Senior Associate, Houston); Gita Pathak (Associate, Houston); Catherine Ellis (Associate, Houston)
• Tax: Chuck Campbell (Special Counsel, Houston)
• Environmental: Harrison Reback (Associate, Houston); Laura Williams (Associate, Houston)
• Real Estate: Connie Simmons Taylor (Partner, Houston); Emily Quiros (Associate, Houston)

For more information, please see Calumet's news release by clicking here.

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