Baker Botts Advises Dealer Manager in Exchange Offer by Calumet, Inc.
Deal Description: On November 25, 2024, Calumet, Inc. (NASDAQ: CLMT) and its wholly owned subsidiaries, Calumet Specialty Products Partners, L.P. (the “Partnership”) and Calumet Finance Corp. (“Finance Corp.” and, together with the Partnership, the “Issuers”) completed their exchange offer (the “Exchange Offer”) to certain holders of their 11.00% Senior Notes due 2025 (the “Old Notes”) to exchange any and all of the Old Notes for newly issued 11.00% Senior Notes due 2026 (the “New Notes”).
On November 21, 2024, the Issuers accepted tenders from holders of an aggregate of $354,399,000 principal amount of Old Notes for consideration consisting of an aggregate of $354,399,000 principal amount of New Notes. Following the settlement of the Exchange Offer, an aggregate of $9,142,000 principal amount of Old Notes remain outstanding.
Baker Botts L.L.P. represented the sole dealer manager in the Exchange Offer.
Baker Botts Lawyers/Office Involved:
- Corporate: Joshua Davidson (Partner, Houston); Eileen Boyce (Partner, Houston); Austin Lee (Associate, Houston); Cade Luedde (Associate, Houston)
- Finance: Clint Culpepper (Partner, Austin); Morgan Copher (Associate, Dallas)
- Tax: Chuck Campbell (Special Counsel, Houston)
- Environmental: Elizabeth Singleton (Special Counsel, Houston)
For more information, please see Calumet, Inc.’s news release by clicking here.
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