Calumet Specialty Products Partners, L.P. announced the pricing of their private placement under Rule 144A and Regulation S under the Securities Act of 1933, as amended (the "Securities Act"), of $325 million in aggregate principal amount of 8.125% Senior Notes due 2027 (the "Notes"). The Notes mature on January 15, 2027 and will be issued at par. The Offering is expected to close on January 20, 2022, subject to customary closing conditions.

The Offering was upsized to $325 million in aggregate principal amount of Notes from the original offering size of $300 million in aggregate principal amount of Notes. Calumet intends to use the net proceeds from the Offering, together with cash on hand, to fund the previously announced redemption of all of its outstanding 7.75% Senior Notes due 2023 (the "2023 Notes") and pay related expenses.