Calumet Reveals Series Of Related Agreements With Stonebriar Commercial Finance
Portfolio Pulse from Benzinga Newsdesk
Calumet Montana Refining, a subsidiary of Calumet, has entered into a $150 million sale and leaseback agreement with Stonebriar Commercial Finance, selling certain assets and leasing them back.
October 03, 2024 | 9:11 pm
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Calumet Montana Refining, a subsidiary of Calumet, has sold certain assets to Stonebriar for $150 million and leased them back, indicating a strategic move to enhance liquidity while maintaining operational control.
The sale and leaseback agreement provides Calumet with immediate liquidity of $150 million, which can be used for other strategic initiatives or debt reduction. The leaseback ensures continued use of the assets, minimizing operational disruption. This move is likely to be viewed positively by investors as it strengthens the company's financial position.
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