Calumet Specialty Products Partners Announces Pricing of $400 Million Private Placement (CLMT)

Calumet Specialty Products Partners CLMT and its wholly owned subsidiary Calumet Finance Corp. announced today the pricing of their private placement under Rule 144A to eligible purchasers of $400 million in aggregate principal amount of 9 3/8% senior unsecured notes due 2019 (the "Notes"). The offering size was increased to $400 million from $375 million. The Notes mature on May 1, 2019 and will be issued at par. The offering is expected to close on April 21, 2011, subject to customary closing conditions. Calumet intends to use the net proceeds from the private placement to repay in full all of the outstanding borrowings under its existing senior secured term loan facility, as well as all accrued interest and fees, and for general partnership purposes.