Calumet lenders extend deadline for delivering financials to Dec. 5

By Sarah Lizee

Olympia, Wash., Nov. 16 – Calumet Specialty Products Partners, LP said the lenders for its second amended and restated credit agreement dated July 14, 2014 consented to postpone the due date for the delivery of its financial statements until Dec. 5, according to an 8-K filing with the Securities and Exchange Commission.

The partnership was required to deliver the financial statements on or before Nov. 14 but was unable to do so due to reporting difficulties caused by the implementation of an enterprise resource planning system.

Failure to deliver the documents by that time would have been an immediate default and lenders would have been able to accelerate the partnership’s borrowings under the credit agreement, which included no borrowings under the revolving portion as of the Nov. 13 and $83.1 million in outstanding letters of credit.

Bank of America, NA is the agent.

Calumet is an Indianapolis-based producer of specialty hydrocarbon products and fuel products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.