Montana Renewables launches municipal bond offering

Calumet Specialty Products Partners LP announced March 8 that its unrestricted subsidiary Montana Renewables LLC launched a proposed municipal bond offering of $250 million, subject to market conditions, of tax-exempt bonds to be issued by Cascade County, Montana.

The offering materials and investor presentation can be found here.

According to Calumet, these materials contain important information, both for existing and prospective investors of Calumet, and are available free of charge by accessing the link above.

In November, Montana Renewables began producing renewable diesel in Great Falls, Montana, where the company had separated its refinery assets into 12,000 barrels per day (bpd) crude-oil processing and 12,000 bpd renewables.

On the renewables side, the refinery has the capacity to produce 135 million gallons per year (mgy) of renewable diesel, 30 mgy of sustainable aviation fuel (SAF) and 15 mgy of renewable naphtha.

Expansion plans are in the works to boost SAF capacity in Great Falls.

In December, Biobased Diesel Daily reported that Cascade County commissioners approved a proposal Nov. 30 to issue its solid waste disposal and sewage facility revenue bonds up to $275 million to Montana Renewables.

In late February, Montana Renewables announced it had appointed Citigroup as lead underwriter in the bond offering from Cascade County.

Calumet is headquartered in Indianapolis, Indiana, and operates 12 facilities throughout North America.