Calumet Announces New Inventory Financing Agreement For Montana Renewables
Portfolio Pulse from Benzinga Newsdesk
Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) announced that Montana Renewables LLC has entered into a Supply and Offtake Agreement with Wells Fargo, replacing its previous inventory financing agreement with Macquarie. The new agreement streamlines MRL's inventory financing process, provides increased inventory advance rates, and has a three-year term.
October 10, 2023 | 8:38 pm
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The new agreement with Wells Fargo could streamline Calumet's inventory financing process and provide increased inventory advance rates, potentially improving the company's financial position.
The new agreement with Wells Fargo replaces the previous one with Macquarie and offers improved terms, including streamlined administration and increased inventory advance rates. This could lead to improved liquidity and financial stability for Calumet, potentially having a positive impact on its stock price in the short term.
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