---
schema_version: "secwatch.filing_event.v1"
accession: "0001609253-26-000084"
form_type: "8-K"
ticker: "CRC"
cik: "0001609253"
company_name: "California Resources Corp"
filed_at: "2026-03-23T23:59:59+00:00"
generated_at: "2026-05-15T09:22:14.614067+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# CRC closes $350M upsized 7% notes due 2034 to refinance 8.25% notes due 2029

## Summary
- Issued $350M additional 7.000% senior notes due Jan 15, 2034; semi-annual interest begins July 15, 2026.
- Net proceeds, with cash on hand or revolver borrowings, to redeem $350M of 8.250% senior notes due 2029 at 100% plus premium.
- New notes are fungible with existing $400M 7.000% 2034 notes under same indenture; same CUSIP for 144A tranche.
- Redemption of 2029 notes expected to close March 24, 2026.
- Notes are senior unsecured, guaranteed by CRC's credit facility and 2029 note guarantors.

## SEC filing metadata
- accession: 0001609253-26-000084
- form_type: 8-K
- ticker: CRC
- cik: 0001609253
- company_name: California Resources Corp
- filed_at: 2026-03-23T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1609253/000160925326000084/0001609253-26-000084-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1609253/000160925326000084/crc-20260323.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001609253-26-000084
- JSON: https://secwatch.observer/filing/0001609253-26-000084.json
- Plain text: https://secwatch.observer/filing/0001609253-26-000084.txt

## Key facts
- Debt Financings
  California Resources Corp incurred senior notes of $350 million aggregate principal amount with Wilmington Trust, National Association at 7.000% maturing January 15, 2034.
  - Instrument: senior notes
  - Principal: $350 million aggregate principal amount
  - Counterparty: Wilmington Trust, National Association
  - Rate: 7.000%
  - Maturity: January 15, 2034
  - Event: incurrence
  source text: On March 23, 2026, California Resources Corporation (the “Company”) completed its previously announced upsized private offering of an additional $350 million aggregate principal amount of its 7.000% senior unsecured notes due 2034 (the “Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1609253/000160925326000084/0001609253-26-000084-index.htm
- Material Agreements
  California Resources Corp entered into First Supplemental Indenture with Wilmington Trust, National Association (effective 2026-01-16).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Wilmington Trust, National Association
  - Effective: 2026-01-16
  source text: The terms of the Notes are governed by the Indenture, dated as of October 8, 2025 (the “Original Indenture”, as amended and supplemented by the First Supplemental Indenture, dated as of January 16, 2026 (the “First Supplemental Indenture” and together with the Original Indenture, the “Indenture”)), by and among the Company, the guarantors party thereto (the “Guarantors”) and Wilmington Trust, National Association, as trustee (the “Trustee”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1609253/000160925326000084/0001609253-26-000084-index.htm
- Material Agreements
  California Resources Corp entered into Indenture with Wilmington Trust, National Association valued at $350 million aggregate principal amount (effective 2026-03-23).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Wilmington Trust, National Association
  - Value: $350 million aggregate principal amount
  - Effective: 2026-03-23
  source text: On March 23, 2026, California Resources Corporation (the “Company”) completed its previously announced upsized private offering of an additional $350 million aggregate principal amount of its 7.000% senior unsecured notes due 2034
  evidence_url: https://www.sec.gov/Archives/edgar/data/1609253/000160925326000084/0001609253-26-000084-index.htm

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