Houston-based Crescent Energy Company (NYSE: CRGY) has announced the pricing details of its additional $150 million private placement for 9.250% Senior Notes due in 2028.
Key Offering Details
Crescent Energy Finance LLC, the indirect subsidiary, priced the private placement under Rule 144A and Regulation S, targeting eligible purchasers. The 9.250% Senior Notes mature on February 15, 2028, carrying an annual interest rate of 9.250%, with payments scheduled on February 15 and August 15 each year, starting from February 15, 2024. Priced at 102.125% of par, plus accrued and unpaid interest from August 15, 2023, the offering aims to close on December 8, 2023, pending customary closing conditions.
Integration with Existing Notes
Issued under the indenture dated February 1, 2023, these additional notes are part of the existing $850 million 9.250% Senior Notes due in 2028. Despite sharing substantially identical terms, the Notes and the Existing Notes will be treated as a single series of securities under the Indenture.
Regulatory Compliance and Target Audience
Not registered under the Securities Act or state securities laws, the Notes and related guarantees will be exclusively offered to qualified institutional buyers under Rule 144A and to international investors under Regulation S.
Cautionary Note on Forward-Looking Statements
Crescent Energy emphasizes a cautionary note on forward-looking statements within its communication. While based on current expectations, factors such as weather, economic conditions, and regulatory changes could impact actual results. Investors are urged to consider associated risks before making decisions. The company does not guarantee the achievement of expectations or specific results.
Source：businesswire.com
