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Stock impact report

California Resources Corporation Announces Private Offering of $400 Million of Senior Unsecured Notes [Yahoo! Finance]

California Resources Corporation (CRC) 
NASDAQ:AMEX Investor Relations: crc.com/investor-relations
Company Research Source: Yahoo! Finance
Corporation (NYSE: CRC) (the “Company”) announced today that, subject to market and other conditions, it intends to offer and sell to eligible purchasers $400 million in aggregate principal amount of senior unsecured notes due 2034 (the “Notes”). The Notes will be guaranteed by all of the Company's existing subsidiaries (and certain future subsidiaries) that guarantee its revolving credit facility, its 7.125% senior unsecured notes due 2026 and its 8.250% senior unsecured notes due 2029. The Company intends to use the net proceeds from this offering, together with cash on hand and borrowings under its revolving credit facility, to repay the existing indebtedness of Berry Corporation (bry) (“Berry”) in connection with the pending business combination with Berry (the “Berry Merger”), and pay fees and expenses in connection with the Berry Merger and the offering of the Notes. If (x) the consummation of the Berry Merger does not occur on or before March 14, 2026 (subject to up to two th Show less Read more
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