California Resources Corp (CRC): debt financing — CRC issues $400M 7% senior notes due 2034 tied to Berry merger

California Resources Corp

Issued $400M aggregate principal of 7.000% senior notes due Jan 15, 2034.
Interest payable semi-annually starting July 15, 2026; guaranteed by existing and future subsidiaries that back other CRC debt.
Special mandatory redemption at par if Berry merger (stock ticker BRY) not closed by March 14, 2026 or deal terminated.
Notes unsecured, rank equally with senior unsecured debt; change of control triggers repurchase at 101% of principal.
Company may redeem up to 40% of notes with equity offering proceeds before Jan 15, 2029.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

California Resources Corp incurred senior notes of $400.0 million with Wilmington Trust, National Association at 7.000% maturing 2034.

Instrument: senior notes
Principal: $400.0 million
Counterparty: Wilmington Trust, National Association
Rate: 7.000%
Maturity: 2034
Event: incurrence

Exact text from the filing

On October 8, 2025, California Resources Corporation (the “Company”) completed its previously announced private offering of $400.0 million aggregate principal amount of its 7.000% senior notes due 2034 (the “Notes”).

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California Resources Corp filing history →

Source: SEC EDGAR

accession 0001193125-25-234517

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