# Calumet Plans $150 Million Redemption of 9.75% Notes Due in 2028

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/32539
Published: 2026-10-15T13:48:18.000Z
Updated: 2026-10-15T13:48:18.000Z
Section: Business

> The Oct. 25 redemption price is 102.438% of principal, plus interest accrued through but excluding that date.

Calumet Specialty Products Partners, L.P. plans to redeem $150 million of its 9.75% senior notes due in 2028 on Oct. 25. The planned redemption would bring debt retired since July to about $265 million as the company continues its debt-reduction effort. Calumet Specialty Products Partners, L.P. and Calumet Finance Corp. gave holders notice of the redemption on Oct. 15.

The notes were issued in June 2023 and mature July 15, 2028. The redemption price is 102.438% of principal, plus accrued and unpaid interest through, but excluding, Oct. 25. The notes carry an annual interest rate of 9.75%, payable semiannually on Jan. 15 and July 15. The 102.438% price is the optional-redemption amount for the 12-month period that began July 15, 2026.

The planned call concerns the June 2023 issue, not a separate $100 million batch of 9.75% notes due in 2028 that Calumet issued in January 2025 and redeemed in July. Calumet listed $325 million of the June 2023 notes outstanding as of June 30, separately from the January 2025 issue.

July’s debt actions also included repayment and termination of a $15.5 million financing arrangement for a Montana terminal. The current redemption and those debt reductions are expected to save about $26 million in annual cash interest. The savings estimate covers the combined reductions, rather than the $150 million redemption alone.

The effort is intended to accelerate debt reduction, strengthen Calumet’s balance sheet and lower interest expense. The redemption is scheduled for Oct. 25.