Calumet Specialty Products Partners L.P. (CLMT) announced it priced an underwritten public offering of 5.25 million common units at $37.50 per unit. Calumet also granted the underwriters a 30-day option to purchase up to 787,500 additional common units.
Calumet intends to use the net proceeds, including a proportionate capital contribution from its general partner, for general partnership purposes, including working capital, capital expenditures, acquisitions and potentially the redemption or repurchase of outstanding notes.
The offering is expected to close on April 1, 2013.
by RTT Staff Writer
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