California Resources Corporation Announces $400 Million Private Placement of Senior Unsecured Notes to Fund Berry Merger

Reuters09-24

California Resources Corporation Announces $400 Million Private Placement of Senior Unsecured Notes to Fund Berry Merger

California Resources Corporation $(CRC)$ has announced a private offering of $400 million in senior unsecured notes due 2034. The notes will be guaranteed by all of the company's existing subsidiaries that currently guarantee its revolving credit facility and outstanding senior unsecured notes. Proceeds from the offering, along with cash on hand and borrowings under the revolving credit facility, are intended to repay the existing indebtedness of Berry Corporation in connection with CRC's pending merger with Berry, as well as to cover related fees and expenses. If the Berry merger is not completed by the specified deadline or is terminated, the notes will be subject to a special mandatory redemption at 100% of the initial issue price plus accrued interest.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. California Resources Corporation published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9534446-en) on September 24, 2025, and is solely responsible for the information contained therein.

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