---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-234517"
form_type: "8-K"
ticker: "CRC"
cik: "0001609253"
company_name: "California Resources Corp"
filed_at: "2025-10-08T23:59:59+00:00"
generated_at: "2026-05-17T04:19:01.024301+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# CRC issues $400M 7% senior notes due 2034 tied to Berry merger

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-234517
- form_type: 8-K
- ticker: CRC
- cik: 0001609253
- company_name: California Resources Corp
- filed_at: 2025-10-08T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 5.07, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1609253/000119312525234517/0001193125-25-234517-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1609253/000119312525234517/d845351d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-234517
- JSON: https://secwatch.observer/filing/0001193125-25-234517.json
- Plain text: https://secwatch.observer/filing/0001193125-25-234517.txt

## Key facts
- Debt Financings
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1609253/000119312525234517/0001193125-25-234517-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.