M
ME NEWS
25 Jun 2025, 08:58
Crescent Energy Company (NYSE: CRGY) announced that its subsidiary, Crescent Energy Finance LLC, has priced a $600 million offering of 8.375% Senior Notes due 2034. The company expects net proceeds of approximately $588.1 million, which will primarily be used to:
Fund a tender offer for a portion of its outstanding 9.250% Senior Notes due 2028,
Pay related fees and expenses, and
Repay borrowings under its revolving credit facility or for general corporate purposes if funds remain.
The offering is not contingent on the completion of the tender offer and is expected to close on July 8, 2025.
The Notes will be sold to qualified institutional buyers under Rule 144A and to non-U.S. investors under Regulation S, and will not be registered under the Securities Act.
BofA Securities is acting as the representative of the initial purchasers, which include KKR Capital Markets LLC, an affiliate of Crescent. Other participating financial institutions may also benefit from proceeds used to repay existing credit obligations or held notes. The company has also agreed to a 60-day lockup on new debt offerings without prior consent.
Fund a tender offer for a portion of its outstanding 9.250% Senior Notes due 2028,
Pay related fees and expenses, and
Repay borrowings under its revolving credit facility or for general corporate purposes if funds remain.
The offering is not contingent on the completion of the tender offer and is expected to close on July 8, 2025.
The Notes will be sold to qualified institutional buyers under Rule 144A and to non-U.S. investors under Regulation S, and will not be registered under the Securities Act.
BofA Securities is acting as the representative of the initial purchasers, which include KKR Capital Markets LLC, an affiliate of Crescent. Other participating financial institutions may also benefit from proceeds used to repay existing credit obligations or held notes. The company has also agreed to a 60-day lockup on new debt offerings without prior consent.