CRC prices $400M 7.000% senior notes due 2034 to fund Berry merger

California Resources Corp

Private offering of $400M aggregate principal at par; 7.000% coupon, maturity 2034.
Net proceeds ~$394M after discounts; expected closing October 8, 2025.
Proceeds used with cash and credit facility to repay Berry debt in pending merger.
Special mandatory redemption at 100% if Berry merger not closed by March 14, 2026.
Notes unsecured, guaranteed by existing and certain future subsidiaries.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.