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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowCalumet Specialty Products Partners LP is selling 3 million shares of common stock to pay debt and to finance requirements of an agreement with another company.
The Indianapolis-based refiner and processor of specialty lubricants said Monday it will use the secondary offering to repay $56.3 million, including $30 million to finance requirements related to the company’s agreements with a subsidiary of Netherlands-based LyondellBasell.
The shares will be sold on the open market. Calumet stock has been trading at about $19.75 a share. At that price, the offering would raise $59 million.
Goldman Sachs & Co. and Barclays Capital are underwriting the offering.
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