Calumet Specialty Products Partners, L.P’s $550 Million Senior Notes Offering


Baker Botts advised the initial purchasers.

On September 27, 2019, Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) (“Calumet”) and its wholly owned subsidiary Calumet Finance Corp. announced the pricing of a private placement of $550 million in aggregate principal amount of 11.00% Senior Notes due 2025 (the “Notes”) under Rule 144A and Regulation S of the Securities Act of 1933, as amended. The Notes will be guaranteed by certain subsidiaries of Calumet. The offering is expected to close on October 11, 2019, subject to the satisfaction of customary closing conditions.

Calumet intends to use the net proceeds from the offering, together with borrowings under its revolving credit facility and cash on hand, to fund the redemption of all of its outstanding 6.50% Senior Notes due 2021.

Baker Botts team was led by A.J. Ericksen (Picture); Justin Hoffman; Josh Davidson; Eileen Boyce; Gita Pathak; Catherine Ellis; Chuck Campbell; Harrison Reback; Laura Williams; Connie Simmons Taylor; Emily Quiros.

Involved fees earner: Catherine Baker Ellis – Baker Botts; Eileen Boyce – Baker Botts; Chuck Campbell – Baker Botts; Joshua Davidson – Baker Botts; A.J. Ericksen – Baker Botts; Justin Hoffman – Baker Botts; Gita Pathak – Baker Botts; Emily Quiros – Baker Botts; Harrison Reback – Baker Botts; Consuella Simmons Taylor – Baker Botts; Laura Williams – Baker Botts;

Law Firms: Baker Botts;

Clients: Bank of America Securities; Barclays Capital ; BMO Capital Markets; Deutsche Bank Securities; Goldman Sachs & Co.; Guggenheim Securities; JP Morgan Securities; Regions Securities LLC; Seaport Global Securities, LLC; US Bancorp Investments Inc.; Wells Fargo Securities;