WS Investor
24 Oct 2025, 23:38
Crescent Energy Expands Credit Facility Ahead of Vital Energy Merger
Crescent Energy Company (NYSE: CRGY) announced that its subsidiary, Crescent Energy Finance LLC, entered into a Thirteenth Amendment to its Credit Agreement on October 22, 2025. The amendment increases the company’s borrowing base by $1.3 billion to $3.9 billion, contingent on the completion of Crescent’s proposed merger with Vital Energy Inc. It also extends the maturity date for revolving loans to October 2030, lowers the applicable interest margin to SOFR plus 1.75–2.75%, and doubles the maximum credit facility to $6 billion, while keeping elected commitments at $2 billion.
The amendment, led by Wells Fargo Bank as administrative agent, strengthens Crescent’s liquidity position ahead of the merger with Vital Energy, which remains subject to regulatory and shareholder approval. The company emphasized that the filing does not constitute an offer or solicitation related to the transaction.
Crescent and Vital have filed a registration statement on Form S-4 with the SEC outlining the terms of the proposed business combination, which will be presented to both companies’ shareholders once finalized.
Crescent Energy Company (NYSE: CRGY) announced that its subsidiary, Crescent Energy Finance LLC, entered into a Thirteenth Amendment to its Credit Agreement on October 22, 2025. The amendment increases the company’s borrowing base by $1.3 billion to $3.9 billion, contingent on the completion of Crescent’s proposed merger with Vital Energy Inc. It also extends the maturity date for revolving loans to October 2030, lowers the applicable interest margin to SOFR plus 1.75–2.75%, and doubles the maximum credit facility to $6 billion, while keeping elected commitments at $2 billion.
The amendment, led by Wells Fargo Bank as administrative agent, strengthens Crescent’s liquidity position ahead of the merger with Vital Energy, which remains subject to regulatory and shareholder approval. The company emphasized that the filing does not constitute an offer or solicitation related to the transaction.
Crescent and Vital have filed a registration statement on Form S-4 with the SEC outlining the terms of the proposed business combination, which will be presented to both companies’ shareholders once finalized.