Strategic Financial Move by Crescent Energy
Crescent Energy Company (NYSE: CRGY) has unveiled plans for a private placement offering of $150 million aggregate principal amount of 9.250% Senior Notes due 2028. The initiative is led by its subsidiary, Crescent Energy Finance LLC, with the proceeds aimed at repaying portions of the outstanding amounts under its revolving credit facility.
Key Details of the Offering
The 9.250% Senior Notes due 2028 will mirror the terms of the existing notes, except for the issue date, issue price, and first payment date. The Notes, treated as a single series of securities under the existing indenture, mature on February 15, 2028, with interest payments scheduled on February 15 and August 15 each year. The anticipated net proceeds will play a pivotal role in fortifying Crescent Energy’s financial position.
Market Conditions and Regulatory Compliance
Subject to market conditions, the offering will be conducted in compliance with Rule 144A and Regulation S under the Securities Act of 1933. The Notes, along with related guarantees, will be exclusively offered to qualified institutional buyers under Rule 144A and to individuals outside the United States under Regulation S.
About Crescent Energy Company
Crescent Energy Company, a prominent U.S. independent energy entity, manages a diverse portfolio of assets across basins within the lower 48 states. This strategic financial move aligns with Crescent Energy’s commitment to sustained growth and resilience in the evolving energy landscape.
Source: businesswire.com
