Calumet Announces $120 million Extension with Stonebriar

Core Viewpoint - Calumet, Inc. has extended its asset financing arrangement with Stonebriar, increasing the value of its Shreveport terminal assets to $120 million and providing $80 million in proceeds to reduce outstanding Senior Notes due 2026 [1][2]. Group 1: Financial Transaction Details - The new financing arrangement assigns a value of $120 million to the Shreveport terminal assets, up from the previous valuation of $70 million [1]. - The transaction will yield $80 million in proceeds, which will be used to partially redeem $80 million of the outstanding 11.00% Senior Notes due 2026 at par plus accrued interest [1]. - The cost of capital for this transaction is set at 10.75% [1]. Group 2: Company Operations and Management - Todd Borgmann, CEO of Calumet, emphasized the value increase as a result of the Shreveport team's efforts to enhance facility reliability and throughput [2]. - Calumet, Inc. manufactures and markets a range of specialty branded products and renewable fuels across various consumer and industrial markets, operating twelve facilities in North America [3].