June 24, 2017 5:38 PM ET

Chemicals

Company Overview of Calumet Shreveport Lubricants & Waxes, LLC

Company Overview

Calumet Shreveport Lubricants & Waxes, LLC produces and supplies specialty lubricating oils and waxes in Indiana. It also offers fuel products, such as gasoline, diesel, and jet fuel. The company was founded in 2004 and is based in Indianapolis, Indiana. Calumet Shreveport Lubricants & Waxes, LLC operates as a subsidiary of Calumet Specialty Products Partners, L.P.

2780 Waterfront Parkway East Drive

Suite 200

Indianapolis, IN 46214

United States

Founded in 2004

Phone:

317-328-5660

Key Executives for Calumet Shreveport Lubricants & Waxes, LLC

Calumet Shreveport Lubricants & Waxes, LLC does not have any Key Executives recorded.

Calumet Shreveport Lubricants & Waxes, LLC Key Developments

Calumet Shreveport Lubricants & Waxes, LLC and Calumet Shreveport Fuels, LLC Enters into a Supply and Offtake Agreement with Macquarie Energy North America Trading

On June 19, 2017, Calumet Shreveport Lubricants & Waxes, LLC (“LW”), and Calumet Shreveport Fuels, LLC (“Fuels”) entered into a Supply and Offtake Agreement with Macquarie Energy North America Trading Inc., pertaining to crude oil supply and offtake of finished products at LW’s Shreveport, Louisiana refinery. After all the closing date related Supply and Offtake Agreement transactions are completed, cash proceeds to LW and Fuels will be approximately $64 million in aggregate. Substantially all of the crude oil and finished products owned by LW and Fuels were sold to Macquarie under the Supply and Offtake Agreement, while a part of such crude oil and finished products was pledged to secure obligations arising under such agreement. All sold or pledged crude oil and finished products are thus excluded from, and availability is reduced under, the borrowing base established in the Second Amended and Restated Credit Agreement, dated as of July 14, 2014, as amended from time to time thereafter, by and among Calumet Specialty Products Partners, L.P., the other borrowers party thereto, the lenders party thereto and Bank of America, N.A., as agent for the lenders. In connection with the entry into the Supply and Offtake Agreement, LW and Fuels entered into ancillary agreements which relate to supply, storage, marketing and sales of crude oil and refined products including, but not limited to the following: Inventory Sales Agreement, Storage Facilities Agreement, Marketing and Sales Agreement, Master Crude Oil and Products Agreement, Pledge and Security Agreement, Sale and Purchase Agreement, and Calumet SIP Sale and Purchase Agreement. A sales intermediation party entered into an agreement with Macquarie pursuant to which the SIP agreed to purchase from Macquarie certain finished products that Macquarie originally purchased from LW. Parent agreed to guarantee the obligations of LW and Fuels arising under the Supply Transaction Documents. The Supply and Offtake Agreement is effective until June 30, 2020, subject to certain early termination rights, the performance of customary covenants, and certain events of default provided therein. In the event that LW or Fuels terminates the Supply and Offtake Agreement early, certain additional early termination fees may be due. Following expiration or termination of the Supply and Offtake Agreement, LW and Fuels are obligated to purchase crude oil and refined product inventories then owned by Macquarie and the SIP located at the Included Locations at then current market prices. On the Effective Date, Macquarie purchased from LW all crude oil and finished products then held by LW at certain included locations owned or controlled by LW. Pursuant to the Supply Transaction Documents, Fuels may hereafter buy crude oil and other feedstocks initially for use at the Refinery and resell the same to Macquarie. After LW creates finished products at the Refinery, LW may sell finished products to Macquarie, and Macquarie is obligated to purchase all of LW’s finished products output. Thereafter, LW or Fuels may repurchase just in time, when needed, such products from Macquarie, or from the SIP that purchased such products from Macquarie, for sale to third parties. Macquarie has title to and risk of loss of crude oil and products purchased from LW or Fuels while located at the Included Locations. LW and Fuels agreed in the Supply Transaction Documents to provide professional consulting, liaison and other related services to Macquarie in the marketing and sale of the refined products acquired by Macquarie thereunder.

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