Calumet Extends Senior Secured Revolving Credit Facility to January 2031
Rhea-AI Summary
Calumet (NASDAQ: CLMT) amended its senior secured asset-based revolving credit facility, extending the maturity from January 2027 to January 2031. The amended facility provides for $500 million of total commitments, subject to borrowing base limitations, and is led by Bank of America as agent.
The change expands the bank group and optimizes potential borrowing base capacity following the divestiture of the industrial portion of the Royal Purple business, aiming to extend the company’s overall debt maturity profile.
Positive
- Maturity extended to January 2031
- $500 million total commitments under amended facility
- Bank group expansion led by Bank of America
Negative
- Availability is subject to borrowing base limitations
- Royal Purple industrial divestiture reduced borrowing base potential
Key Figures
Market Reality Check
Peers on Argus
CLMT gained 3.07% while close peers were mixed: SCL up 0.88%, ODC up 0.12%, ECVT down 1.09%, KRO down 0.91%, and KRA flat. With no peers in the momentum scanner, the move appears company-specific rather than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 12 | Notes offering completed | Positive | -0.5% | Completion of upsized $405M 9.75% senior notes to refinance higher-coupon debt. |
| Jan 09 | Conference participation | Neutral | -1.3% | Announcement of attendance and investor meetings at UBS energy and utilities conference. |
| Jan 07 | Notes pricing | Positive | +1.8% | Pricing of upsized $405M 9.75% senior notes due 2031 under Rule 144A/Reg S. |
| Jan 06 | Debt refinancing plan | Positive | +0.4% | Proposed $350M senior notes to fund redemptions of 2026 and 2027 notes. |
| Jan 05 | Prelim FY25 results | Neutral | +0.4% | Preliminary 2025 net loss range, EBITDA range, and liquidity and debt reduction update. |
Recent capital structure and liquidity announcements have typically produced modest single-day reactions, with one noted divergence where debt refinancing news coincided with a small negative move.
Over the past month, Calumet has focused on balance sheet repositioning and liquidity. Announcements in early January 2026 detailed new senior notes due 2031, conditional redemptions of nearer-term notes, and preliminary 2025 results showing improved liquidity and reduced restricted debt. Today’s extension of the ABL maturity to January 2031 continues this trend of addressing debt timelines and supporting liquidity following the Royal Purple industrial divestiture.
Market Pulse Summary
This announcement extends Calumet’s asset-based revolving credit facility maturity from January 2027 to January 2031 with total commitments of $500 million, adding visibility to liquidity after recent note offerings and debt redemptions. It follows earlier disclosures on new 2031 notes, preliminary 2025 results, and reduced restricted debt. Investors may monitor future filings for detailed ABL terms, ongoing progress on debt reduction, and how the extended facility supports operations and renewable fuels initiatives.
Key Terms
asset-based loan financial
revolving credit facility financial
Form 8-K regulatory
AI-generated analysis. Not financial advice.
"Our amended revolving credit facility further extends our overall debt maturity profile and expands our bank group, while optimizing the size of the potential borrowing base capacity following the divestiture of the industrial portion of our Royal Purple® business," said David Lunin, Executive Vice President and CFO. "I'd like to thank the lending group for their continued support."
For more information, please see the Current Report on Form 8-K that will be filed with the Securities and Exchange Commission (the "SEC").
About Calumet
Calumet, Inc. (NASDAQ: CLMT) manufactures, formulates and markets a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. Calumet is headquartered in
Cautionary Statement Regarding Forward-Looking Statements
Certain statements and information in this press release may constitute "forward-looking statements." The words "will," "may," "intend," "believe," "expect," "outlook," "forecast," "anticipate," "estimate," "continue," "plan," "should," "could," "would," or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. The statements discussed in this press release that are not purely historical data are forward-looking statements. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. While our management considers these assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. Accordingly, our actual results may differ materially from the future performance that we have expressed or forecast in our forward-looking statements. For additional information regarding known material risks, uncertainties and other factors that can affect future results, please see our filings with the Securities and Exchange Commission ("SEC"), including the risk factors and other cautionary statements in the latest Annual Report on Form 10-K of the Company and other filings with the SEC by the Company. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
View original content:https://www.prnewswire.com/news-releases/calumet-extends-senior-secured-revolving-credit-facility-to-january-2031-302673150.html
SOURCE Calumet, Inc.
FAQ
What change did Calumet (CLMT) make to its credit facility on January 28, 2026?
How large is the amended credit commitment for Calumet (CLMT)?
Who is the lead lender for Calumet's (CLMT) amended revolving credit facility?
When will the amended Calumet (CLMT) credit facility mature and what does that mean for liquidity?
How does the Royal Purple divestiture affect Calumet's (CLMT) borrowing base?
