Calumet Specialty Products Partners, L.P. and its wholly-owned subsidiary Calumet Finance Corp. (together with the Partnership, the "Issuers") announced the closing of $200 million in aggregate principal amount of a new series of the Issuers' 9.25% Senior Secured First Lien Notes due 2029 in a private placement transaction. The Notes were issued at par for proceeds of $200 million, before estimated transaction expenses. As previously announced, the Partnership used a portion of the net proceeds from the private placement to redeem all of the Issuers' outstanding 9.25% Senior Secured First Lien Notes due 2024. In addition, the Partnership intends to use the remaining net proceeds from the private placement, together with cash on hand, to redeem $50 million in aggregate principal amount of the Issuers' outstanding 11.00% Senior Notes due 2025.