Calumet Upsizes Senior Secured Revolving Credit Facility and Receives Final $34 Million Draw under the DOE Loan

Calumet amended its asset-based lending facility, raising total commitments to $600 million — a $100 million increase — with the maturity unchanged at January 2031 and Bank of America, N.A. acting as agent for the lender group. Montana Renewables, Calumet's unrestricted subsidiary, received its final $34 million draw under the amended DOE Loan Guarantee Agreement, completing the federal loan funding tied to the MaxSAF expansion. Remaining project capital for the MaxSAF build-out now stands at $137 million, down from the $1.2 billion contemplated in the original Phase 2 plan, driven by repurposing proven equipment from the adjacent Calumet Montana Refining asphalt facility.

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