Calumet Prices New Senior Notes to Refinance Credit Facility

An announcement from Calumet Specialty Products ( (CLMT) ) is now available.

On March 12, 2026, Calumet’s subsidiaries Calumet Specialty Products Partners, L.P. and Calumet Finance Corp. priced a $150 million private placement of 9.75% Senior Notes due 2031 at 105% of par, with closing expected on March 17, 2026, as an additional tranche to $405 million of notes issued earlier in January 2026 forming a single series. Net proceeds of roughly $154.9 million are designated to repay outstanding borrowings under Calumet’s revolving credit facility, supported by a tenth amendment to its credit agreement to permit the new indebtedness, a move that reshapes near-term funding, deepens ties with existing lenders, and modestly extends the company’s fixed-rate debt profile.

Certain initial purchasers or their affiliates are lenders under the revolving credit facility and may receive a portion of the proceeds, highlighting the interconnected role of Calumet’s banking partners in its financing and hedging activities. The purchase agreement and related credit amendment follow customary terms and conditions, positioning Calumet to simplify its capital structure while continuing derivative activities tied to crude oil, natural gas, and fuel products with affiliates of the same financial institutions.

The most recent analyst rating on (CLMT) stock is a Hold with a $29.00 price target. To see the full list of analyst forecasts on Calumet Specialty Products stock, see the CLMT Stock Forecast page.

Spark’s Take on CLMT Stock

According to Spark, TipRanks’ AI Analyst, CLMT is a Neutral.

The score is held back primarily by weak financial fundamentals—especially negative equity, thin margins, and recent net losses—despite improved 2025 cash flow and debt reduction. Technicals are a clear positive with strong trend support, while valuation remains challenged due to loss-making earnings. Earnings-call updates and recent financing/maturity extensions add support but are tempered by renewable margin/regulatory uncertainty and elevated 2026 turnaround CapEx and downtime risk.

To see Spark’s full report on CLMT stock, click here.

More about Calumet Specialty Products

Calumet, Inc., listed on NASDAQ as CLMT, manufactures, formulates and markets a diversified slate of specialty branded products and renewable fuels for a broad range of consumer-facing and industrial markets. The company is headquartered in Indianapolis, Indiana, and operates twelve production facilities across North America, reflecting a significant presence in the specialty products and renewable fuels sector.

Calumet Specialty Products Partners, L.P. and Calumet Finance Corp., wholly owned subsidiaries of Calumet, entered into a purchase agreement on March 12, 2026 to issue $150 million of 9.75% Senior Notes due 2031 in a private placement at 105% of par, with closing expected on March 17, 2026. The proceeds, estimated at about $154.9 million, are earmarked to repay borrowings under Calumet’s revolving credit facility, and a concurrent credit agreement amendment permits this new debt issuance while the notes join an existing $405 million series, refining the company’s capital structure and lender relationships.

Average Trading Volume: 1,275,258

Technical Sentiment Signal: Buy

Current Market Cap: $2.49B

For an in-depth examination of CLMT stock, go to TipRanks’ Overview page.