Calumet Specialty Products Partners, L.P. Announces $450 Million Private Offering of Senior Notes

INDIANAPOLIS, July 12 /PRNewswire-FirstCall/ –Calumet Specialty Products
Partners, L.P. (Nasdaq: CLMT) (“Calumet”) and its wholly owned subsidiary
Calumet Finance Corp. announced today that, subject to market conditions, they
intend to offer for sale in a private placement under Rule 144A to eligible
purchasers $450 million in aggregate principal amount of senior unsecured notes.
Calumet intends to use the net proceeds from the private placement to repay in
full all of the outstanding borrowings under its existing senior secured term
loan facility as well as all accrued interest and fees, repay a portion of the
outstanding borrowings under its existing revolving credit facility and pay
transaction costs relating to its entrance into a new revolving credit facility.

The securities to be offered have not been registered under the Securities Act
of 1933, as amended (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.

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.

This press release includes statements regarding the offering that may
constitute forward-looking statements. Such forward-looking statements are
subject to a variety of known and unknown risks, uncertainties, and other
factors that are difficult to predict and many of which are beyond management’s
control. Calumet undertakes no obligation to update or revise any
forward-looking statement to reflect new information or events.

SOURCE Calumet Specialty Products Partners, L.P.