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Calumet Specialty Products Partners, L.P. Announces Pricing Of $350 Million Upsized Private Placement Of 7.625% Senior Notes Due 2022

INDIANAPOLIS, Nov. 21, 2013 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) ("Calumet") and its wholly owned subsidiary Calumet Finance Corp. announced today the pricing of their private placement under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the "Securities Act"), to eligible purchasers of $350 million in aggregate principal amount of 7.625% senior unsecured notes due 2022 (the "Notes"). The Notes mature on January 15, 2022 and will be issued at 98.494 percent of par. This private placement is expected to close on November 26, 2013, subject to customary closing conditions.  The offering was upsized to $350 million in aggregate principal amount of Notes from the original offering size of $225 million in aggregate principal amount of Notes.

Calumet intends to use the net proceeds from the private placement for general partnership purposes, including working capital and acquisitions, and the repurchase of approximately $100 million aggregate principal amount of outstanding 9 3/8% senior unsecured notes due 2019 in privately negotiated transactions.

The securities to be sold have not been registered under the Securities Act, or any state securities laws, and unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Calumet plans to offer and sell the notes only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to persons outside the United States pursuant to Regulation S under the Securities Act.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such states.

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