Calumet Issues Redemption Notice for $100 Million of 9.75% Senior Notes due 2028
Rhea-AI Summary
Calumet (NASDAQ: CLMT) announced that its subsidiaries will redeem all outstanding $100 million 9.75% Senior Notes due 2028, originally issued in January 2025. The notes are scheduled to be redeemed on July 15, 2026 at 102.438% of principal, plus accrued and unpaid interest.
CFO David Lunin said the action supports balance sheet strengthening, interest expense reduction and ongoing deleveraging, alongside reduced borrowings under the revolving credit facility.
Positive
- $100 million 9.75% Senior Notes due 2028 called for full redemption
- Redemption scheduled for July 15, 2026 at 102.438% of principal
- Management highlights goal of lowering interest expense and accelerating deleveraging
- Borrowings under the revolving credit facility were reduced during Q2 2026
Negative
- Redemption at 102.438% of principal requires paying a premium over par
- Cash outlay includes both premium and accrued, unpaid interest at redemption
News Market Reaction – CLMT
In the Jul 8 session, CLMT gained 4.36%, reflecting a moderate positive market reaction. Argus tracked a peak move of +2.0% during that session. Our momentum scanner triggered 7 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 02 | Conference attendance | Positive | +3.5% | Announcement of participation and investor meetings at Wells Fargo conference. |
| May 28 | Conference attendance | Positive | +4.2% | Planned attendance and one-on-one meetings at BofA Energy and Power event. |
| May 21 | Conference attendance | Positive | +3.0% | Participation in Goldman Sachs Leveraged Finance Conference and investor access. |
| May 08 | Earnings report | Negative | -7.3% | Q1 2026 net loss with sizable non‑cash RINs and derivative charges. |
| Apr 23 | Earnings date notice | Neutral | +0.9% | Scheduling of Q1 2026 earnings release and conference call details. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent CLMT news, from conferences to earnings, has generally seen price moves that align directionally with the perceived tone of each announcement.
Key Terms
senior notes financial
cusip financial
revolving credit facility financial
forward-looking statements regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
"Today's announcement marks another important milestone in our commitment to strengthening our balance sheet and reducing interest expense," said David Lunin, CFO. "We also reduced borrowings under our revolving credit facility during the second quarter. With operating momentum and a favorable outlook, we are well positioned to continue accelerating deleveraging while investing in the growth opportunities that create long-term shareholder value."
This press release shall not constitute a notice of redemption of the 2028 Mirror Notes. Information concerning the terms and conditions of the redemption of the 2028 Mirror Notes is described in the notice of full redemption distributed to holders on July 2, 2026.
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 Indianapolis, Indiana and operates twelve facilities throughout North America.
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, including, but not limited to, the statements regarding the redemption of the 2028 Mirror Notes. 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.
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SOURCE Calumet, Inc.