Crescent Energy Co (CRGY): debt financing — Crescent Energy issues $400M 9.25% senior notes due 2028

Crescent Energy Co

Issued $400 million aggregate principal of 9.250% senior notes due February 15, 2028.
Notes are guaranteed by existing subsidiaries that guarantee the revolving credit facility; not guaranteed by parent CRGY or OpCo.
Interest payable semiannually on Feb 15 and Aug 15, commencing August 15, 2023.
Optional redemption: up to 40% with equity proceeds before Feb 2025 at 109.25%; make-whole before Feb 2025; step-down prices after.
Upon change of control with ratings decline, holders may require repurchase at 101% of principal plus accrued interest.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Crescent Energy Co incurred senior notes of $400.0 million with U.S. Bank Trust Company, National Association at 9.250% per annum maturing February 15, 2028.

Instrument: senior notes
Principal: $400.0 million
Counterparty: U.S. Bank Trust Company, National Association
Rate: 9.250% per annum
Maturity: February 15, 2028
Event: incurrence

Exact text from the filing

On February 1, 2023, Crescent Energy Finance LLC (the “Issuer”), a Delaware limited liability company and indirect subsidiary of Crescent Energy Company (NYSE: CRGY) (the “Company”), issued $400.0 million aggregate principal amount of its 9.250% senior notes due 2028 (the “Notes”).

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Source: SEC EDGAR

accession 0001193125-23-021581

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