Crescent Energy Co (CRGY): debt financing — Crescent Energy issues $300M additional 9.25% senior notes due 2028, upsized from $250M

Crescent Energy Co

Crescent Energy Finance LLC priced $300M aggregate principal of 9.250% Senior Notes due 2028, upsized from previously announced $250M.
Notes mature Feb 15, 2028, interest payable semiannually at 9.250% with first payment due Aug 15, 2023.
Net proceeds of ~$287.5M used to repay revolving credit facility; offering closed July 20, 2023.
Notes issued as additional series under existing indenture, treated as single series with existing $400M notes.
Offered via private placement to QIBs and non-U.S. persons; not registered under Securities Act.

item 1.01 item 2.03 item 7.01 item 8.01 item 9.01

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 $300 million aggregate principal amount with U.S. Bank Trust Company, National Association at 9.250% per annum maturing February 15, 2028.

Instrument: senior notes
Principal: $300 million aggregate principal amount
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 July 20, 2023, Crescent Energy Finance LLC (the “Issuer”), a Delaware limited liability company and indirect subsidiary of Crescent Energy Company (NYSE: CRGY) (the “Company”), issued $300 million aggregate principal amount of its 9.250% senior notes due 2028 (the “New Notes”).

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Source: SEC EDGAR

accession 0001193125-23-191377

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