Calumet Specialty Products Partners L.P. (CLMT) Monday announced the commencement of an underwritten public offering of 5.25 million common units.
Calumet also intends to grant the underwriters the option to purchase up to 787,500 additional common units.
Calumet intends to use the net proceeds from this common unit offering, 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.
Barclays Capital Inc., BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. Deutsche Bank Securities Inc., Goldman, Sachs & Co. and MLV & Co. LLC are acting as co-managers.
Calumet Specialty Products Partners L.P. is a producer of specialty hydrocarbon and fuel products.
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