secwatch.observer — SEC 8-K summary
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Issuer:     California Resources Corp (CRC)
CIK:        0001609253
Form:       8-K
Filed at:   2025-10-08T23:59:59+00:00
Accession:  0001193125-25-234517
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1609253/000119312525234517/0001193125-25-234517-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1609253/000119312525234517/d845351d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-234517

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