Calumet announces $150 million senior note redemption, cutting debt by $265 million
Calumet Inc. said its subsidiaries will retire $150 million of 9.75 % senior notes that mature in 2028. The redemption is scheduled for October 25, 2026 and will be executed at 102.438 % of principal plus accrued interest. This action, together with a $100 million redemption in July, brings total debt retirements since July 2026 to about $265 million and is expected to save roughly $26 million of cash interest each year. The company framed the move as part of its ongoing deleveraging strategy.
Why it matters
The redemption reduces Calumet’s outstanding debt and lowers its annual interest expense by an estimated $26 million, which should improve cash flow and balance‑sheet leverage for investors. The company indicated the savings will support its growth initiatives in both its specialty products and renewable fuels segments.
Key facts
- 1Calumet’s subsidiaries gave notice to retire $150 million of 9.75 % senior notes due 2028. prnewswire.com
- 2The redemption will occur on October 25, 2026 at a cash price of 102.438 % of principal plus accrued interest. prnewswire.com
- 3Including a $100 million redemption in July, the company has retired approximately $265 million of debt since July 2026. prnewswire.com
- 4The debt reduction is projected to generate annual cash interest savings of about $26 million. prnewswire.com
- 5David Lunin, Calumet’s chief financial officer, said the redemption reinforces the company’s commitment to accelerate debt reduction and strengthen the balance sheet. prnewswire.com
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.