---
schema_version: "secwatch.filing_event.v1"
accession: "0001609253-26-000114"
form_type: "8-K"
ticker: "CRC"
cik: "0001609253"
company_name: "California Resources Corp"
filed_at: "2026-06-16T12:24:45+00:00"
generated_at: "2026-06-16T12:30:14.906394+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# CRC launches $550M private note offering to refinance 8.25% 2029 notes at 104.125%

## Summary
- CRC announces private offering of $550M senior unsecured notes due 2035, proceeds to redeem existing $550M 8.250% notes due 2029.
- Redemption price set at 104.125% of principal plus accrued interest; offering not contingent on redemption completion.
- Q1 2026 net loss $711M (incl. $869M unusual items); pro forma TTM adjusted EBITDAX $1,358M.
- As of May 31, 2026, CRC had $32M cash and no revolver borrowings outstanding.
- Berry merger completed Dec 18, 2025; pro forma financials reflect combined entity.

## SEC filing metadata
- accession: 0001609253-26-000114
- form_type: 8-K
- ticker: CRC
- cik: 0001609253
- company_name: California Resources Corp
- filed_at: 2026-06-16T12:24:45+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1609253/000160925326000114/0001609253-26-000114-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1609253/000160925326000114/crc-20260616.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001609253-26-000114
- JSON: https://secwatch.observer/filing/0001609253-26-000114.json
- Plain text: https://secwatch.observer/filing/0001609253-26-000114.txt

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