secwatch.observer — SEC 8-K summary
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Issuer:     California Resources Corp (CRC)
CIK:        0001609253
Form:       8-K
Filed at:   2025-09-24T23:59:59+00:00
Accession:  0001193125-25-215598
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1609253/000119312525215598/0001193125-25-215598-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1609253/000119312525215598/d13520d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-215598

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