California Resources Corporation Announces Pricing of Upsized Private Offering of $600 Million of Senior Unsecured Notes
California Resources Corporation (CRC)
NASDAQ:AMEX Investor Relations:
crc.com/investor-relations
Company Research
Source: Business Wire
LONG BEACH, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) (the “Company”) announced today the pricing of its upsized private offering of $600 million in aggregate principal amount of its 8.250% senior unsecured notes due 2029 (the “Notes”) at par. The Notes will be guaranteed by all of the Company’s existing subsidiaries that guarantee its revolving credit facility, its 7.125% senior unsecured notes due 2026 and certain future subsidiaries. The offering is expected to close on June 5, 2024, subject to customary closing conditions.The Company estimates that the net proceeds from the offering will be approximately $590 million after deducting the initial purchasers' discount and estimated expenses. The Company intends to use the net proceeds from this offering, cash on hand and borrowings under its revolving credit facility to repay the existing indebtedness of Aera Energy, LLC and its operating affiliate Aera Energy Services Company (together, the “Aera Comp
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News
- California Resources Co. (NYSE: CRC) had its "outperform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $65.00 price target on the stock.MarketBeat
- California Resources Corporation Announces Private Offering of $500 Million of Senior Unsecured Notes [Yahoo! Finance]Yahoo! Finance
- California Resources Corporation Announces Private Offering of $500 Million of Senior Unsecured NotesBusiness Wire
- California Resources Co. (NYSE: CRC) had its price target raised by analysts at Mizuho from $63.00 to $64.00. They now have a "buy" rating on the stock.MarketBeat
- California Resources Corporation (NYSE:CRC) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
CRC
Earnings
- 5/7/24 - Beat
CRC
Sec Filings
- 6/5/24 - Form DEFA14A
- 6/5/24 - Form 8-K
- 5/30/24 - Form 4
- CRC's page on the SEC website