Crescent launches exchange offers for up to $600M of Vital senior notes

Crescent Energy Co

Crescent Finance offers to exchange up to $298M of 7.75% Vital notes due 2029 and $302M of 9.75% notes due 2030 for new Crescent notes with identical terms.
Consent solicitations seek to eliminate substantially all restrictive covenants on Existing Vital Notes; holders who tender early get Total Exchange Consideration of $1,000 per $1,000 principal.
Early tender date Dec 12, 2025; Exchange Offers expire Dec 30, 2025; settlement expected Jan 2, 2026, subject to closing of Crescent-Vital acquisition.

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