secwatch.observer — SEC 8-K summary
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Issuer:     California Resources Corp (CRC)
CIK:        0001609253
Form:       8-K
Filed at:   2026-06-16T12:24:45+00:00
Accession:  0001609253-26-000114
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1609253/000160925326000114/0001609253-26-000114-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1609253/000160925326000114/crc-20260616.htm
  HTML page:      https://secwatch.observer/filing/0001609253-26-000114

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