---
schema_version: "secwatch.filing_event.v1"
accession: "0001609253-24-000090"
form_type: "8-K"
ticker: "CRC"
cik: "0001609253"
company_name: "California Resources Corp"
filed_at: "2024-05-21T23:59:59+00:00"
generated_at: "2026-06-01T10:57:33.291227+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- $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.

## SEC filing metadata
- accession: 0001609253-24-000090
- form_type: 8-K
- ticker: CRC
- cik: 0001609253
- company_name: California Resources Corp
- filed_at: 2024-05-21T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1609253/000160925324000090/0001609253-24-000090-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1609253/000160925324000090/crc-20240521.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001609253-24-000090
- JSON: https://secwatch.observer/filing/0001609253-24-000090.json
- Plain text: https://secwatch.observer/filing/0001609253-24-000090.txt

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