secwatch.observer — SEC 8-K summary
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Issuer:     California Resources Corp (CRC)
CIK:        0001609253
Form:       8-K
Filed at:   2024-02-14T23:59:59+00:00
Accession:  0001609253-24-000022
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CRC amends credit agreement to permit up to $500M bridge loan for Petra acquisition
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- Second Amendment dated Feb 9, 2024 amends existing credit agreement to enable bridge loan facility.
- Bridge loan facility capped at $500M less any senior unsecured note proceeds funded before acquisition close.
- Financing supports acquisition of Green Gate Resources Parent (Petra) under agreement dated Feb 7, 2024.
- Amendment sets bridge loan incurrence window from Feb 9, 2024 to May 7, 2025.
- Existing lenders including Citibank, KeyBank, MUFG, Mizuho, RBC, TD, Deutsche Bank, Goldman Sachs, Jefferies, Morgan Stanley, BP Energy approved amendment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1609253/000160925324000022/0001609253-24-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1609253/000160925324000022/crc-20240209.htm
  HTML page:      https://secwatch.observer/filing/0001609253-24-000022

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