[8-K] Calumet, Inc. Reports Material Event
Calumet, Inc. (CLMT) filed an 8-K to disclose a $120 million sale-leaseback of its Shreveport refinery fuels terminal, truck rack and related equipment. Subsidiary Calumet Shreveport sold the assets to Stonebriar Commercial Finance and immediately leased them back under a seven-year Master Lease Agreement (Property Schedule No. 2).
- Monthly rent: 鈮� $1.8 million, implying a 10.75% annual cost of capital.
- Early buy-out option: after six years for 鈮� $42 million.
- The parent company reaffirmed its guaranty of all lease obligations.
- 鈮� $40 million of proceeds were applied to retire obligations under the now-terminated 2021 Property Schedule No. 1.
Concurrent amendments were executed to accommodate the new indebtedness and liens:
- Eighth Amendment to the Third Amended & Restated Credit Agreement (Bank of America, N.A. agent).
- Third Amendment to the Monetization Master Agreement with J. Aron & Co.
The transaction creates a new direct financial obligation, adjusts existing credit facilities, and constitutes a disposition and re-acquisition of assets for accounting purposes. Exhibits, including a press release dated July 28 2025, will be filed with the next Form 10-Q.
Calumet, Inc. (CLMT) ha presentato un modulo 8-K per comunicare una vendita e successivo leasing di ritorno da 120 milioni di dollari relativo al terminal carburanti, al rack per camion e alle attrezzature correlate del suo stabilimento di Shreveport. La controllata Calumet Shreveport ha venduto tali beni a Stonebriar Commercial Finance e li ha immediatamente riaffittati con un contratto di locazione master della durata di sette anni (Property Schedule n. 2).
- Affitto mensile: circa 1,8 milioni di dollari, che implica un costo annuale del capitale del 10,75%.
- Opzione di riscatto anticipato: dopo sei anni per circa 42 milioni di dollari.
- La societ脿 madre ha riaffermato la garanzia su tutte le obbligazioni derivanti dal leasing.
- Circa 40 milioni di dollari dei proventi sono stati utilizzati per estinguere obbligazioni relative al Property Schedule n. 1 del 2021, ora terminato.
Contemporaneamente sono state eseguite modifiche per adeguare i nuovi debiti e gravami:
- Ottava modifica al Terzo Accordo di Credito Modificato e Ristabilito (con Bank of America, N.A. come agente).
- Terza modifica al Monetization Master Agreement con J. Aron & Co.
L鈥檕perazione genera un nuovo obbligo finanziario diretto, modifica le linee di credito esistenti e rappresenta una cessione e riacquisizione di beni ai fini contabili. Gli allegati, compreso un comunicato stampa del 28 luglio 2025, saranno depositati con il prossimo modulo 10-Q.
Calumet, Inc. (CLMT) present贸 un formulario 8-K para revelar una venta con arrendamiento posterior por 120 millones de d贸lares de su terminal de combustible, estaci贸n de camiones y equipo relacionado en la refiner铆a de Shreveport. La subsidiaria Calumet Shreveport vendi贸 los activos a Stonebriar Commercial Finance y los arrend贸 inmediatamente bajo un Acuerdo Maestro de Arrendamiento de siete a帽os (Property Schedule No. 2).
- Renta mensual: aproximadamente 1.8 millones de d贸lares, lo que implica un costo anual de capital del 10.75%.
- Opci贸n de compra anticipada: despu茅s de seis a帽os por aproximadamente 42 millones de d贸lares.
- La empresa matriz reafirm贸 su garant铆a sobre todas las obligaciones del arrendamiento.
- Alrededor de 40 millones de d贸lares de los ingresos se destinaron a cancelar obligaciones bajo el Property Schedule No. 1 de 2021, ahora terminado.
Se ejecutaron en paralelo enmiendas para acomodar la nueva deuda y grav谩menes:
- Octava Enmienda al Tercer Acuerdo de Cr茅dito Modificado y Restablecido (con Bank of America, N.A. como agente).
- Tercera Enmienda al Acuerdo Maestro de Monetizaci贸n con J. Aron & Co.
La transacci贸n crea una nueva obligaci贸n financiera directa, ajusta las facilidades de cr茅dito existentes y constituye una disposici贸n y readquisici贸n de activos para fines contables. Los anexos, incluido un comunicado de prensa fechado el 28 de julio de 2025, ser谩n presentados con el pr贸ximo formulario 10-Q.
Calumet, Inc. (CLMT)電� Shreveport 鞝曥湢靻岇潣 鞐半 韯半雱�, 韸鸽煭 霝� 氚� 甏�霠� 鞛ル箘鞐� 雽�頃� 1鞏� 2觳滊 雼煬 攴滊鞚� 毵り皝 頉� 鞛瀯雽� 瓯半灅毳� 瓿店皽頃橁赴 鞙勴暣 8-K毳� 鞝滌稖頄堨姷雼堧嫟. 鞛愴殞靷澑 Calumet Shreveport電� 鞛愳偘鞚� Stonebriar Commercial Finance鞐� 毵り皝頃橁碃 歃夓嫓 7雲勱皠鞚� 毵堨姢韯� 毽姢 瓿勳暯(Property Schedule No. 2)鞐� 霐半澕 鞛瀯雽�頄堨姷雼堧嫟.
- 鞗� 鞛勲寑耄�: 鞎� 180毵� 雼煬搿� 鞐瓣皠 鞛愲掣 牍勳毄 10.75%鞐� 頃措嫻.
- 臁瓣赴 毵れ瀰 鞓奠厴: 6雲� 頉� 鞎� 4,200毵� 雼煬鞐� 臧�電�.
- 氇殞靷姅 氇摖 毽姢 鞚橂鞐� 雽�頃� 氤挫鞚� 鞛檿鞚疙枅鞀惦媹雼�.
- 鞎� 4,000毵� 雼煬鞚� 靾橃澋旮堨潃 膦呺霅� 2021雲� Property Schedule No. 1 甏�霠� 毂勲 靸來櫂鞐� 靷毄霅橃棃鞀惦媹雼�.
靸堧鞖� 攵�毂� 氚� 雼措炒 靹れ爼鞚� 氚橃榿頃橁赴 鞙勴暣 雼れ潓瓿� 臧欖潃 霃欖嫓 靾橃爼鞚� 鞚措（鞏挫鞀惦媹雼�:
- 鞝�8彀� 靾橃爼 鞝�3彀� 臧滌爼 氚� 鞛瀾靹彪悳 鞁犾毄 瓿勳暯靹�(Bank of America, N.A. 雽�毽澑).
- 鞝�3彀� 靾橃爼 J. Aron & Co.鞕�鞚� Monetization Master Agreement.
鞚措矆 瓯半灅電� 靸堧鞖� 歆侅爲 旮堨湹 鞚橂毳� 靸濎劚頃橁碃 旮办〈 鞁犾毄 鞁滌劋鞚� 臁办爼頃橂┌ 須岅硠 氇╈爜靸� 鞛愳偘鞚� 觳橂秳 氚� 鞛法霌濎溂搿� 臧勳＜霅╇媹雼�. 2025雲� 7鞗� 28鞚检瀽 氤措弰鞛愲毳� 韽暔頃� 觳秬 氍胳劀電� 雼れ潓 10-Q 鞏戩嫕瓿� 頃粯 鞝滌稖霅� 鞓堨爼鞛呺媹雼�.
Calumet, Inc. (CLMT) a d茅pos茅 un formulaire 8-K pour divulguer une op茅ration de cession-bail de 120 millions de dollars portant sur son terminal de carburants, son poste de chargement pour camions et les 茅quipements associ茅s de sa raffinerie de Shreveport. La filiale Calumet Shreveport a vendu ces actifs 脿 Stonebriar Commercial Finance et les a imm茅diatement repris en location dans le cadre d鈥檜n contrat de location principal de sept ans (Property Schedule n掳 2).
- Loyer mensuel : environ 1,8 million de dollars, ce qui implique un co没t annuel du capital de 10,75 %.
- Option de rachat anticip茅 : apr猫s six ans pour environ 42 millions de dollars.
- La soci茅t茅 m猫re a r茅affirm茅 sa garantie sur toutes les obligations locatives.
- Environ 40 millions de dollars des produits ont 茅t茅 utilis茅s pour rembourser des dettes li茅es au Property Schedule n掳 1 de 2021, d茅sormais r茅sili茅.
Des amendements concomitants ont 茅t茅 ex茅cut茅s pour int茅grer les nouvelles dettes et charges :
- Huiti猫me amendement au Troisi猫me accord de cr茅dit amend茅 et restitu茅 (Bank of America, N.A. agent).
- Troisi猫me amendement au Monetization Master Agreement avec J. Aron & Co.
Cette op茅ration cr茅e une nouvelle obligation financi猫re directe, ajuste les facilit茅s de cr茅dit existantes et constitue une cession et une r茅acquisition d鈥檃ctifs aux fins comptables. Les annexes, y compris un communiqu茅 de presse dat茅 du 28 juillet 2025, seront d茅pos茅es avec le prochain formulaire 10-Q.
Calumet, Inc. (CLMT) hat ein Formular 8-K eingereicht, um einen Sale-and-Leaseback in H枚he von 120 Millionen US-Dollar f眉r das Kraftstoffterminal, die Lkw-Verladestation und die zugeh枚rige Ausr眉stung seiner Raffinerie in Shreveport offenzulegen. Die Tochtergesellschaft Calumet Shreveport verkaufte die Verm枚genswerte an Stonebriar Commercial Finance und least sie sofort im Rahmen eines siebenj盲hrigen Master-Leasingvertrags (Property Schedule Nr. 2) zur眉ck.
- Monatliche Miete: ca. 1,8 Millionen US-Dollar, was einer j盲hrlichen Kapitalkostenrate von 10,75 % entspricht.
- Option zum vorzeitigen R眉ckkauf: nach sechs Jahren f眉r ca. 42 Millionen US-Dollar.
- Die Muttergesellschaft best盲tigte ihre B眉rgschaft f眉r alle Leasingverpflichtungen.
- Ca. 40 Millionen US-Dollar der Erl枚se wurden zur Tilgung von Verbindlichkeiten aus dem nun beendeten Property Schedule Nr. 1 von 2021 verwendet.
Gleichzeitig wurden 脛nderungen vorgenommen, um die neuen Schulden und Sicherheiten zu ber眉cksichtigen:
- Achte 脛nderung des Dritten ge盲nderten und neu gefassten Kreditvertrags (Bank of America, N.A. als Agent).
- Dritte 脛nderung des Monetization Master Agreement mit J. Aron & Co.
Die Transaktion schafft eine neue direkte finanzielle Verpflichtung, passt bestehende Kreditfazilit盲ten an und stellt aus buchhalterischer Sicht eine Ver盲u脽erung und Wiedererwerb von Verm枚genswerten dar. Anlagen, einschlie脽lich einer Pressemitteilung vom 28. Juli 2025, werden mit dem n盲chsten Formular 10-Q eingereicht.
- $120 million cash inflow enhances short-term liquidity.
- $40 million debt repayment eliminates prior Stonebriar obligation and related liens.
- 10.75% effective lease rate adds 鈮� $21.6 million in annual fixed payments, above typical secured debt costs.
- New seven-year lease obligation increases long-term liabilities and requires parent guaranty.
Insights
TL;DR: CLMT monetizes Shreveport assets for $120 m but assumes 10.75% lease cost; liquidity up, leverage unchanged.
The sale-leaseback injects $120 million gross cash, of which $40 million retires prior Stonebriar obligations, so net liquidity gain is 鈮� $80 million. However, the 10.75% implicit rate exceeds typical secured debt, suggesting limited access to cheaper capital. Monthly payments of $1.8 million add 鈮� $21.6 million fixed cost annually. Amendments to the revolver and J. Aron monetization facilities prevent covenant breach, indicating proactive liability management. Overall impact is neutral: liquidity improves, but leverage profile and interest burden rise.
TL;DR: Transaction boosts cash yet raises fixed charges; credit effect balanced, outlook unchanged.
Stonebriar鈥檚 seven-year lease with a six-year repurchase option (鈮� 35% of original sale price) keeps strategic assets operational while realizing cash. Guarantee requirement underscores parent support. Termination of Property Schedule No. 1 cleans legacy exposure, but 10.75% cost signals non-investment-grade borrowing conditions. Revolver and monetization agreement amendments avoid cross-default risk. Given absent earnings data, leverage and coverage metrics cannot be recalculated, so impact is assessed as neutral.
Calumet, Inc. (CLMT) ha presentato un modulo 8-K per comunicare una vendita e successivo leasing di ritorno da 120 milioni di dollari relativo al terminal carburanti, al rack per camion e alle attrezzature correlate del suo stabilimento di Shreveport. La controllata Calumet Shreveport ha venduto tali beni a Stonebriar Commercial Finance e li ha immediatamente riaffittati con un contratto di locazione master della durata di sette anni (Property Schedule n. 2).
- Affitto mensile: circa 1,8 milioni di dollari, che implica un costo annuale del capitale del 10,75%.
- Opzione di riscatto anticipato: dopo sei anni per circa 42 milioni di dollari.
- La societ脿 madre ha riaffermato la garanzia su tutte le obbligazioni derivanti dal leasing.
- Circa 40 milioni di dollari dei proventi sono stati utilizzati per estinguere obbligazioni relative al Property Schedule n. 1 del 2021, ora terminato.
Contemporaneamente sono state eseguite modifiche per adeguare i nuovi debiti e gravami:
- Ottava modifica al Terzo Accordo di Credito Modificato e Ristabilito (con Bank of America, N.A. come agente).
- Terza modifica al Monetization Master Agreement con J. Aron & Co.
L鈥檕perazione genera un nuovo obbligo finanziario diretto, modifica le linee di credito esistenti e rappresenta una cessione e riacquisizione di beni ai fini contabili. Gli allegati, compreso un comunicato stampa del 28 luglio 2025, saranno depositati con il prossimo modulo 10-Q.
Calumet, Inc. (CLMT) present贸 un formulario 8-K para revelar una venta con arrendamiento posterior por 120 millones de d贸lares de su terminal de combustible, estaci贸n de camiones y equipo relacionado en la refiner铆a de Shreveport. La subsidiaria Calumet Shreveport vendi贸 los activos a Stonebriar Commercial Finance y los arrend贸 inmediatamente bajo un Acuerdo Maestro de Arrendamiento de siete a帽os (Property Schedule No. 2).
- Renta mensual: aproximadamente 1.8 millones de d贸lares, lo que implica un costo anual de capital del 10.75%.
- Opci贸n de compra anticipada: despu茅s de seis a帽os por aproximadamente 42 millones de d贸lares.
- La empresa matriz reafirm贸 su garant铆a sobre todas las obligaciones del arrendamiento.
- Alrededor de 40 millones de d贸lares de los ingresos se destinaron a cancelar obligaciones bajo el Property Schedule No. 1 de 2021, ahora terminado.
Se ejecutaron en paralelo enmiendas para acomodar la nueva deuda y grav谩menes:
- Octava Enmienda al Tercer Acuerdo de Cr茅dito Modificado y Restablecido (con Bank of America, N.A. como agente).
- Tercera Enmienda al Acuerdo Maestro de Monetizaci贸n con J. Aron & Co.
La transacci贸n crea una nueva obligaci贸n financiera directa, ajusta las facilidades de cr茅dito existentes y constituye una disposici贸n y readquisici贸n de activos para fines contables. Los anexos, incluido un comunicado de prensa fechado el 28 de julio de 2025, ser谩n presentados con el pr贸ximo formulario 10-Q.
Calumet, Inc. (CLMT)電� Shreveport 鞝曥湢靻岇潣 鞐半 韯半雱�, 韸鸽煭 霝� 氚� 甏�霠� 鞛ル箘鞐� 雽�頃� 1鞏� 2觳滊 雼煬 攴滊鞚� 毵り皝 頉� 鞛瀯雽� 瓯半灅毳� 瓿店皽頃橁赴 鞙勴暣 8-K毳� 鞝滌稖頄堨姷雼堧嫟. 鞛愴殞靷澑 Calumet Shreveport電� 鞛愳偘鞚� Stonebriar Commercial Finance鞐� 毵り皝頃橁碃 歃夓嫓 7雲勱皠鞚� 毵堨姢韯� 毽姢 瓿勳暯(Property Schedule No. 2)鞐� 霐半澕 鞛瀯雽�頄堨姷雼堧嫟.
- 鞗� 鞛勲寑耄�: 鞎� 180毵� 雼煬搿� 鞐瓣皠 鞛愲掣 牍勳毄 10.75%鞐� 頃措嫻.
- 臁瓣赴 毵れ瀰 鞓奠厴: 6雲� 頉� 鞎� 4,200毵� 雼煬鞐� 臧�電�.
- 氇殞靷姅 氇摖 毽姢 鞚橂鞐� 雽�頃� 氤挫鞚� 鞛檿鞚疙枅鞀惦媹雼�.
- 鞎� 4,000毵� 雼煬鞚� 靾橃澋旮堨潃 膦呺霅� 2021雲� Property Schedule No. 1 甏�霠� 毂勲 靸來櫂鞐� 靷毄霅橃棃鞀惦媹雼�.
靸堧鞖� 攵�毂� 氚� 雼措炒 靹れ爼鞚� 氚橃榿頃橁赴 鞙勴暣 雼れ潓瓿� 臧欖潃 霃欖嫓 靾橃爼鞚� 鞚措（鞏挫鞀惦媹雼�:
- 鞝�8彀� 靾橃爼 鞝�3彀� 臧滌爼 氚� 鞛瀾靹彪悳 鞁犾毄 瓿勳暯靹�(Bank of America, N.A. 雽�毽澑).
- 鞝�3彀� 靾橃爼 J. Aron & Co.鞕�鞚� Monetization Master Agreement.
鞚措矆 瓯半灅電� 靸堧鞖� 歆侅爲 旮堨湹 鞚橂毳� 靸濎劚頃橁碃 旮办〈 鞁犾毄 鞁滌劋鞚� 臁办爼頃橂┌ 須岅硠 氇╈爜靸� 鞛愳偘鞚� 觳橂秳 氚� 鞛法霌濎溂搿� 臧勳＜霅╇媹雼�. 2025雲� 7鞗� 28鞚检瀽 氤措弰鞛愲毳� 韽暔頃� 觳秬 氍胳劀電� 雼れ潓 10-Q 鞏戩嫕瓿� 頃粯 鞝滌稖霅� 鞓堨爼鞛呺媹雼�.
Calumet, Inc. (CLMT) a d茅pos茅 un formulaire 8-K pour divulguer une op茅ration de cession-bail de 120 millions de dollars portant sur son terminal de carburants, son poste de chargement pour camions et les 茅quipements associ茅s de sa raffinerie de Shreveport. La filiale Calumet Shreveport a vendu ces actifs 脿 Stonebriar Commercial Finance et les a imm茅diatement repris en location dans le cadre d鈥檜n contrat de location principal de sept ans (Property Schedule n掳 2).
- Loyer mensuel : environ 1,8 million de dollars, ce qui implique un co没t annuel du capital de 10,75 %.
- Option de rachat anticip茅 : apr猫s six ans pour environ 42 millions de dollars.
- La soci茅t茅 m猫re a r茅affirm茅 sa garantie sur toutes les obligations locatives.
- Environ 40 millions de dollars des produits ont 茅t茅 utilis茅s pour rembourser des dettes li茅es au Property Schedule n掳 1 de 2021, d茅sormais r茅sili茅.
Des amendements concomitants ont 茅t茅 ex茅cut茅s pour int茅grer les nouvelles dettes et charges :
- Huiti猫me amendement au Troisi猫me accord de cr茅dit amend茅 et restitu茅 (Bank of America, N.A. agent).
- Troisi猫me amendement au Monetization Master Agreement avec J. Aron & Co.
Cette op茅ration cr茅e une nouvelle obligation financi猫re directe, ajuste les facilit茅s de cr茅dit existantes et constitue une cession et une r茅acquisition d鈥檃ctifs aux fins comptables. Les annexes, y compris un communiqu茅 de presse dat茅 du 28 juillet 2025, seront d茅pos茅es avec le prochain formulaire 10-Q.
Calumet, Inc. (CLMT) hat ein Formular 8-K eingereicht, um einen Sale-and-Leaseback in H枚he von 120 Millionen US-Dollar f眉r das Kraftstoffterminal, die Lkw-Verladestation und die zugeh枚rige Ausr眉stung seiner Raffinerie in Shreveport offenzulegen. Die Tochtergesellschaft Calumet Shreveport verkaufte die Verm枚genswerte an Stonebriar Commercial Finance und least sie sofort im Rahmen eines siebenj盲hrigen Master-Leasingvertrags (Property Schedule Nr. 2) zur眉ck.
- Monatliche Miete: ca. 1,8 Millionen US-Dollar, was einer j盲hrlichen Kapitalkostenrate von 10,75 % entspricht.
- Option zum vorzeitigen R眉ckkauf: nach sechs Jahren f眉r ca. 42 Millionen US-Dollar.
- Die Muttergesellschaft best盲tigte ihre B眉rgschaft f眉r alle Leasingverpflichtungen.
- Ca. 40 Millionen US-Dollar der Erl枚se wurden zur Tilgung von Verbindlichkeiten aus dem nun beendeten Property Schedule Nr. 1 von 2021 verwendet.
Gleichzeitig wurden 脛nderungen vorgenommen, um die neuen Schulden und Sicherheiten zu ber眉cksichtigen:
- Achte 脛nderung des Dritten ge盲nderten und neu gefassten Kreditvertrags (Bank of America, N.A. als Agent).
- Dritte 脛nderung des Monetization Master Agreement mit J. Aron & Co.
Die Transaktion schafft eine neue direkte finanzielle Verpflichtung, passt bestehende Kreditfazilit盲ten an und stellt aus buchhalterischer Sicht eine Ver盲u脽erung und Wiedererwerb von Verm枚genswerten dar. Anlagen, einschlie脽lich einer Pressemitteilung vom 28. Juli 2025, werden mit dem n盲chsten Formular 10-Q eingereicht.
FAQ
What assets did Calumet (CLMT) sell in the 2025 sale-leaseback?
How much cash did Calumet receive from the sale-leaseback?
What are the payment terms of the new lease?
Can Calumet repurchase the assets?
Why were the credit agreement and monetization agreement amended?
