CLMT 6 ½ 04/15/21

Calumet Specialty Products Partners, LP

Credit, Energy


Public companies mentioned herein: Calumet Specialty Products Partners (CLMT).

Highlights

Calumet is an MLP that is externally advised by Calumet GP, LLC, a privately owned company. Further, the family that controls the GP also owns about 20% of CLMT’s common stock. The presenter is long the company’s unsecured notes on the thesis that Calumet will soon dispose of non-core refining assets and restructure around its resilient specialty products business. Currently trading at roughly 83 cents, those notes should eventually trade to par within the next 12-18 months, with the potential to appreciate even sooner should the company’s oilfield services segment recover faster than expected. 

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Idea Discussion

Commentor 1 - 2 weeks ago

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