Calumet Partners With J. Aron For New Shreveport Supply Offtake, Expands ABL For Enhanced Financial Flexibility
Portfolio Pulse from Benzinga Newsdesk
Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) announced the replacement of its previous Supply and Offtake Agreements for its Shreveport and Montana Refining facilities with a new agreement with J. Aron and an expansion of its Asset Backed Loan facility. The new Shreveport SOA was entered into on January 17, 2024, and the ABL facility has been increased to support inventories previously covered under the Montana Refining SOA.
January 24, 2024 | 6:52 am
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Calumet Specialty Products Partners, L.P. has entered into a new Supply and Offtake Agreement with J. Aron for its Shreveport facility and expanded its Asset Backed Loan facility, enhancing its financial flexibility.
The new SOA with J. Aron and the expanded ABL facility are likely to be viewed positively by investors as they provide Calumet with enhanced financial flexibility and could improve liquidity. This may lead to a short-term positive impact on CLMT's stock price.
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