CRC prices $600M upsized 8.250% senior notes due 2029 to fund Aera merger debt repayment

California Resources Corp

$600M aggregate principal at par, 8.250% coupon, due 2029, closing June 5, 2024.
Net proceeds ~$590M after discounts and expenses.
Proceeds, plus cash and revolver borrowings, to repay Aera Energy indebtedness in pending Aera Merger.
Special mandatory redemption if merger not consummated by May 7, 2025, or if terminated earlier.
Notes unsecured, guaranteed by existing subsidiaries that guarantee CRC's revolving credit facility.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.