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Calumet Specialty Products issues conditional notice of redemption for notes
By Mary-Katherine Stinson
Lexington, Ky., Feb. 23 – Calumet Specialty Products Partners, LP issued conditional notices of redemption for two series of notes on Feb. 23, according to an 8-K filing with the Securities and Exchange Commission.
The notices cover the outstanding 9¼% senior secured first-lien notes due 2024 and 11% senior notes due 2025, both issued by Calumet Specialty Products Partners and Calumet Finance Corp.
The entire outstanding amount of the 2024 notes will be redeemed at par plus accrued interest on March 9.
In addition, $50 million of the issuers’ outstanding 2025 notes are scheduled to be redeemed at par plus accrued interest on April 15.
Both redemptions are conditioned on the partnership’s completion of a private placement of $200 million in total principal amount of a new series of 9¼% senior secured first lien notes due July 15, 2029, which is expected to settle on March 7.
The issuer is an Indianapolis-based master limited partnership and a producer of fuel products and specialty hydrocarbon products.
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