Calumet Prices $405 Million Senior Notes Offering to Redeem Existing Debt
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 07 2026
0mins
Source: PRnewswire
- Increased Financing Size: Calumet, Inc. announced its wholly owned subsidiaries priced a $405 million offering of 9.75% Senior Notes, up from the initial $350 million, indicating strong market support for its financing needs.
- Redemption Strategy: The net proceeds from this offering will be used to redeem the outstanding 11.00% and 8.125% Senior Notes due in 2026 and 2027, which is expected to reduce the company's interest burden and improve its financial condition.
- Issuance Details: The notes will mature in 2031 and are priced at 98.996% of par, with the offering expected to close on January 12, 2026, reflecting the company's flexibility and responsiveness in capital markets.
- Compliance Statement: The offering is exempt from registration and is primarily targeted at qualified institutional buyers, demonstrating the company's strategic intent to optimize its capital structure while adhering to securities laws.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy CLMT?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on CLMT
Wall Street analysts forecast CLMT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CLMT is 23.67 USD with a low forecast of 18.00 USD and a high forecast of 33.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 21.590
Low
18.00
Averages
23.67
High
33.00
Current: 21.590
Low
18.00
Averages
23.67
High
33.00
About CLMT
Calumet, Inc. manufactures, formulates and markets a diversified slate of specialty branded products and renewable fuels to customers across a range of consumer-facing and industrial markets. Its segments include Specialty Products and Solutions; Performance Brands; Montana/Renewables, and Corporate. Specialty Products and Solutions segment manufactures and markets a variety of solvents, waxes, customized lubricating oils, white oils, petrolatum, gels, esters, and other products. Performance Brands segment blend, package and market high performance products through its Royal Purple, Bel-Ray, and TruFuel brands. Montana/Renewables segment comprises two facilities: renewable fuels and specialty asphalt. At its Montana Renewables facility, it processes a variety of geographically advantaged renewable feedstocks into renewable diesel, sustainable aviation fuel, renewable hydrogen, renewable natural gas, renewable propane, and renewable naphtha that are distributed into renewables markets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Calumet Inc. Extends Loan Maturity to 2031
- Loan Maturity Extension: Calumet Inc. has extended the maturity date of its existing asset-based loan from January 2027 to January 2031, ensuring financial flexibility for the next five years, which helps the company maintain stability amid market fluctuations.
- Optimized Financing Size: The amended loan facility provides total commitments of $500 million, subject to borrowing base limitations, offering the company greater capital utilization space to support its business development and investment plans.
- Enhanced Bank Support: The loan is led by Bank of America, expanding Calumet's bank group, which reflects financial institutions' confidence in the company's future growth and further solidifies its financing foundation.
- Impact of Business Restructuring: Following the divestiture of the industrial portion of its Royal Purple® business, Calumet has optimized its borrowing base capacity, enhancing its overall debt maturity profile to improve survival and growth potential in a competitive market.
Continue Reading
Calumet Inc. Closes $405 Million Senior Notes Offering
- Successful Private Placement: Calumet, Inc. has closed a $405 million offering of 9.75% Senior Notes, issued at 98.996% of par, resulting in net proceeds of approximately $393 million, significantly enhancing the company's liquidity and financial flexibility.
- Upsized Offering: The offering was increased from an initial size of $350 million to $405 million, reflecting strong market confidence in Calumet, which is expected to provide robust funding support for future business development.
- Debt Redemption Plan: Calumet plans to use the net proceeds and cash on hand to redeem its outstanding 11.00% and 8.125% Senior Notes due in 2026 and 2027, respectively, which is anticipated to alleviate debt pressure and optimize the capital structure.
- Operational Improvements Driving Success: CEO Todd Borgmann noted that over $220 million in debt reduction and operational cost savings in 2025 laid the groundwork for this oversubscribed offering, with future value creation expected through stable cash flows and the MaxSAF™ 150 expansion project.
Continue Reading