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Calumet Specialty hopes to raise $375M to pay off debt

Kathleen McLaughlin
April 12, 2011
Keywords
Calumet Specialty Products, Manufacturers, Manufacturing & Technology
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Indianapolis oil refiner Calumet Specialty Products Partners LP intends to sell $375 million in senior notes to pay off existing debt.

The company, along with its subsidiary Calumet Finance Corp., announced the sale Monday. The unsecured notes would be due in 2019.

Calumet said it will use the net proceeds from private placement, plus borrowings under its revolving credit line, to repay in full a secured-term loan, accrued interest and fees.

Calumet makes specialty lubricants for a variety of industrial uses and consumer products. The company operates two refineries in Louisiana and has manufacturing and distribution in Illinois, Texas and Pennsylvania. It has 650 employees.

Company shares were down 3.1 percent in Tuesday morning trading, to $20.48 each.


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  1. Lauren: I reported BJ's plans based on their filing for construction permits. Of course, it's possible the plans fell through. Will update if I can find out more.

  2. This weekend the Indianapolis School of Ballet performed Russian Treasures at the Scottish Rite Cathedral Theater for huge, enthusiastic crowds. This group of young people, returning students and young guest artists did fantastic performances of Balanchine's Valse-Fantaisie, Swan Lake Act II, Raymonda Act III and Allegro Vivace. I was blown away by the professionalism and energy of this school, which is on the caliber with most professional companies. If you're looking for great dancing and production value, this downtown venue is worth seeing and supporting.

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