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Calumet Specialty Products ( (CLMT) ) has shared an update.
On March 12, 2026, Calumet, Inc. said its subsidiaries Calumet Specialty Products Partners, L.P. and Calumet Finance Corp. plan, subject to market conditions, to privately place $150 million of additional 9.75% senior notes due 2031 to eligible investors. The new notes will form a single series with the $405 million of 9.75% senior notes issued on January 12, 2026, and the company plans to use the net proceeds to repay outstanding borrowings under its revolving credit facility.
Calumet also disclosed it expects to execute a Tenth Amendment to its Third Amended and Restated Credit Agreement, originally dated February 23, 2018, to permit the incurrence of indebtedness tied to the new notes. The company has already obtained the requisite lender consents and conditioned the tack-on offering on entering this amendment, underscoring a coordinated effort to optimize its debt profile and ensure covenant compliance for the planned issuance.
The most recent analyst rating on (CLMT) stock is a Buy with a $34.00 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 down primarily by weak financial quality (negative equity, recent net losses, thin margins) and limited valuation support (negative P/E, no dividend yield provided). These are partly offset by improving 2025 cash flow/operating performance, a strong uptrend in the share price (though overbought signals raise pullback risk), and constructive earnings-call updates and recent debt refinancing that extend maturities.
To see Spark’s full report on CLMT stock, click here.
More about Calumet Specialty Products
Calumet, Inc., through its wholly owned subsidiaries including Calumet Specialty Products Partners, L.P., operates in the specialty petroleum products and related financial instruments space. The group utilizes secured credit facilities and senior notes to fund operations and manage its capital structure within the broader energy and specialty products markets.
The company’s financing activities focus on balancing revolving credit borrowings with longer-term high-yield senior notes. Its capital strategy involves ongoing amendments to existing credit agreements to accommodate new debt issuances and maintain lender support for its funding plans.
Average Trading Volume: 1,273,724
Technical Sentiment Signal: Buy
Current Market Cap: $2.52B
See more insights into CLMT stock on TipRanks’ Stock Analysis page.