secwatch.observer — SEC 8-K summary
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Issuer:     California Resources Corp (CRC)
CIK:        0001609253
Form:       8-K
Filed at:   2026-06-26T21:00:25+00:00
Accession:  0001609253-26-000120
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CRC issues $550M 7.250% notes due 2035 to redeem higher-coupon 8.250% notes due 2029
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- Issued $550M aggregate principal of 7.250% senior unsecured notes due Jan 15, 2035; interest payable semi-annually starting Jan 15, 2027.
- Net proceeds used to redeem all $550M of 8.250% senior notes due 2029 at 104.125% plus accrued interest; redemption closed June 26, 2026.
- Notes are guaranteed by existing subsidiaries that guarantee the revolving credit facility and the 7.000% notes due 2034.
- Refinancing extends maturity from 2029 to 2035 and reduces coupon by 100 bps, lowering annual interest expense.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1609253/000160925326000120/0001609253-26-000120-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1609253/000160925326000120/crc-20260626.htm
  HTML page:      https://secwatch.observer/filing/0001609253-26-000120

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