UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 30, 2007
CALUMET SPECIALTY PRODUCTS PARTNERS, L.P.
(Exact name of registrant as specified in its charter)
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DELAWARE
(State or other jurisdiction
of incorporation)
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000-51734
(Commission File Number)
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37-1516132
(IRS Employer
Identification No.) |
2780 Waterfront Pkwy E. Drive
Suite 200
Indianapolis, Indiana 46214
(Address of principal executive offices) (Zip Code)
Registrants telephone number, including area code (317) 328-5660
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Arrangement of a Registrant
On August 30, 2007, Calumet Specialty Products Partners, L.P. (the Partnership) and certain
of its operating subsidiaries, including Calumet Lubricants Co., Limited Partnership
(Lubricants), entered into a Fourth Amendment to their
Revolving Credit Agreement (the Revolver Amendment).
The Revolver Amendment amended the Partnerships Revolving Credit Agreement dated as of December 9,
2005 (the Revolver), by and among Bank of America, N.A., as Agent for the lenders, and certain
other lenders party thereto (collectively with Bank of America, N.A., the Revolver Lenders).
Pursuant to the Revolver Amendment, the Revolver Lenders agreed to amend the Revolver to increase
the Shreveport Capex Exclusion Limit from $105.7 million to $200.0 million.
On August 30, 2007, the Partnership and certain of its operating subsidiaries, including
Calumet Lubricants Co., Limited Partnership, entered into a Third
Amendment to their Term Loan Credit Agreement and
Assignment (the Term Loan Amendment). The Term Loan Amendment amended the Partnerships Term
Loan Credit Agreement dated as of December 9, 2005 (the Term Loan), by and among Bank of America,
N.A., as Administrative Agent for the lenders, and certain other lenders party thereto
(collectively with Bank of America, N.A., the Term Loan Lenders). Pursuant to the Term Loan
Amendment, the Term Loan Lenders agreed to amend the Term Loan to
increase the Shreveport Capex Exclusion Limit from $105.7 million to
$200.0 million. The Term Loan Amendment also
required the Partnership to repay on August 30, 2007 $19 million of borrowings outstanding under
the Term Loan plus accrued interest. After the $19.0 million repayment, which was paid from cash on hand and drawings
under the Revolver, the Partnerships total borrowings under the Term Loan were reduced to $30.3 million. In addition, pursuant to the
assignment provisions of the Term Loan Amendment, the Administrative
Agent took assignment from the other Term Loan Lenders of $27.0 million of the $50.0 million outstanding letter of credit facility
to support crack spread hedging. This
assignment did not increase or decrease the Partnerships $50.0 million outstanding letter of credit facility to support crack spread hedging.
The Revolver Amendment and the Term Loan Amendment made no other substantive changes to the
original terms and conditions of the Revolver or the Term Loan, respectively.
Copies of the Revolver Amendment and the Term Loan Amendment are filed as Exhibits 10.1 and
10.2 to this Current Report on Form 8-K, respectively.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
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EXHIBIT NUMBER |
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DESCRIPTION |
10.1
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Fourth Amendment, dated as of August 30, 2007, to
Revolving Credit Agreement dated as of December
9, 2005 among Calumet Lubricants Co., Limited
Partnership, as Borrower, and certain of its
affiliates, including Calumet Specialty Products
Partners, L.P., as Guarantors, and the lenders
party thereto. |
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10.2
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Third Amendment, dated as of August 30, 2007 to
Term Loan Credit Agreement dated as of December
9, 2005 among Calumet Lubricants Co., Limited
Partnership, as Borrower, and certain of its
affiliates, including Calumet Specialty Products
Partners, L.P., as Guarantors, and the lenders
party thereto. |