H.C. Wainwright analyst Amit Dayal says Calumet Specialty Products Partners last night announced a series of agreements with Stonebriar Commercial Finance. The mention of an “Eligible Capital Event including a loan guarantee from the Department of Energy” in the press release combined with amendments made to sale and lease back related to Montana Renewables’ assets could be indicative of progress toward completing the Department of Energy loan for sustainable aviation fuel expansion, the analyst tells investors in a research note. The firm believes this arrangement could remove any restrictive liens to facilitate the Energy Department loan while addressing 2025 maturities. It keeps a Buy rating on Calumet with a $25 price target
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