Calumet Provides Update on Recent Financing Activity
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Calumet, Inc. announced a $100 million private placement of 9.75% Senior Notes due 2028 and a $65 million at-the-market equity program.
January 15, 2025 | 3:00 pm
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Calumet, Inc. has announced a $100 million private placement of 9.75% Senior Notes due 2028 and a $65 million at-the-market equity program, which could impact its financial flexibility and capital structure.
The issuance of $100 million in Senior Notes at a high interest rate of 9.75% suggests a need for capital, which could be used for growth or debt refinancing. The $65 million ATM equity program indicates a strategy to raise additional funds, potentially diluting existing shareholders but improving liquidity. Overall, these actions could enhance Calumet's financial flexibility, supporting potential growth initiatives.
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