, /PRNewswire/ – Calumet, Inc. (NASDAQ: CLMT) (the "Company" or "Calumet") today announced that it has amended its existing asset-based loan (ABL) facility to extend the maturity date from January 2027 to January 2031. The amended facility provides for total commitments of $500 million, subject to borrowing base limitations, and is led by Bank of America, N.A., as agent for a group of lenders.
"Our amended revolving credit facility further extends our overall debt maturity profile and expands our bank group, while optimizing the size of the potential borrowing base capacity following the divestiture of the industrial portion of our Royal Purple® business," said David Lunin, Executive Vice President and CFO. "I’d like to thank the lending group for t…
, /PRNewswire/ – Calumet, Inc. (NASDAQ: CLMT) (the "Company" or "Calumet") today announced that it has amended its existing asset-based loan (ABL) facility to extend the maturity date from January 2027 to January 2031. The amended facility provides for total commitments of $500 million, subject to borrowing base limitations, and is led by Bank of America, N.A., as agent for a group of lenders.
"Our amended revolving credit facility further extends our overall debt maturity profile and expands our bank group, while optimizing the size of the potential borrowing base capacity following the divestiture of the industrial portion of our Royal Purple® business," said David Lunin, Executive Vice President and CFO. "I’d like to thank the lending group for their continued support."
For more information, please see the Current Report on Form 8-K that will be filed with the Securities and Exchange Commission (the "SEC").
About Calumet
Calumet, Inc. (NASDAQ: CLMT) manufactures, formulates and markets a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. Calumet is headquartered in Indianapolis, Indiana and operates twelve facilities throughout North America.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements and information in this press release may constitute "forward-looking statements." The words "will," "may," "intend," "believe," "expect," "outlook," "forecast," "anticipate," "estimate," "continue," "plan," "should," "could," "would," or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. The statements discussed in this press release that are not purely historical data are forward-looking statements. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. While our management considers these assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. Accordingly, our actual results may differ materially from the future performance that we have expressed or forecast in our forward-looking statements. For additional information regarding known material risks, uncertainties and other factors that can affect future results, please see our filings with the Securities and Exchange Commission ("SEC"), including the risk factors and other cautionary statements in the latest Annual Report on Form 10-K of the Company and other filings with the SEC by the Company. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
SOURCE Calumet, Inc.
