04:30 AM EDT, 10/24/2024 (MT Newswires) -- Calumet (CLMT) said late Wednesday two of its subsidiaries have begun a private exchange of 11% senior notes due 2025 for newly issued 11% senior notes due 2026.

The exchange offer is meant to "prudently manage liquidity" by extending the maturity date of the old notes for a year while maintaining the option to retire the new notes to reduce debt.

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