INDIANAPOLIS, Jan. 12, 2026 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) (the "Company" or "Calumet") today announced that its wholly owned subsidiaries, Calumet Specialty Products Partners, L.P. (the "Partnership") and Calumet Finance Corp. (together with the Partnership, the "Issuers"), closed their private placement (the "Offering") under Rule 144A and Regulation S under the Securities Act of 1933, as amended, of $405 million in aggregate principal amount of 9.75% Senior Notes due 2031 (the "Notes"). The ...

Core Insights - Calumet, Inc. anticipates a net loss between $69 million and $12 million for the year ended December 31, 2025, with Adjusted EBITDA with Tax Attributes expected to range from $285 million to $305 million [2][19]. Financial Performance - The company reported a significant reduction in restricted debt by over $220 million in 2025, attributed to structural cost improvements exceeding $70 million, cost efficiencies of approximately $20 million, and a $110 million divestiture of the Royal Purple Industrial business [3]. - As of December 31, 2025, Calumet had approximately $250 million of liquidity in the Restricted Subsidiaries Group and total liquidity of about $447 million, including restricted cash [3]. Operational Highlights - The company achieved an increase of 1.3 million barrels in annual production, positioning itself for durable free cash flow generation and continued deleveraging in 2026 [3]. - Montana Renewables marked a pivotal year with the successful completion of a U.S. Department of Energy loan, eliminating around $80 million in annual cash debt service, and monetizing over $90 million in producer tax credits during 2025 [3]. Future Outlook - The company is optimistic about the long-term growth and margin outlook for Montana Renewables, especially with the MaxSAF expansion on track for the second quarter of 2026 and anticipated favorable regulatory developments [3].