Calumet Specialty Products +1.8% after pricing upsized debt offering

Calumet Specialty Products (CLMT +1.8%) units are moving after the MLP last night priced an upsized, $350M private placement of 7.625% senior unsecured notes due 2022.

The deal, which was increased 55% from initial plans for a $225M offering, is expected to close Nov. 26.

CLMT plans to use net proceeds for general partnership purposes, including working capital and possible acquisitions as well as buying back ~$100M of its 9.375% senior unsecured notes maturing in 2019 through privately negotiated transactions.

Comments (2)
  • ComputerBlue
    , contributor
    Comments (1367) | Send Message
    I dont think today's action has much to do w the debt restructuring.
    22 Nov 2013, 02:51 PM Reply Like
  • firstnten
    , contributor
    Comment (1) | Send Message
    22 Nov 2013, 05:21 PM Reply Like
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