secwatch.observer — SEC 8-K summary
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Issuer:     Crescent Energy Co (CRGY)
CIK:        0001866175
Form:       8-K
Filed at:   2024-04-12T23:59:59+00:00
Accession:  0001866175-24-000038
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Crescent Energy lowers borrowing base to $1.7B, extends maturity to 2029
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- Borrowing base reduced from $2.0B to $1.7B; elected commitments unchanged at $1.3B.
- Maturity date extended from September 2027 to April 10, 2029.
- Unused commitment fee set at 0.375% or 0.50% per year based on utilization; SOFR margin unchanged at 2.35%-3.35%.
- Springing maturity to November 16, 2027 triggers if >$100M of 9.25% senior notes outstanding.
- Credit agreement amendments include adjusted covenants and removal of Free Cash Flow definition.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1866175/000186617524000038/0001866175-24-000038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1866175/000186617524000038/crgy-20240410.htm
  HTML page:      https://secwatch.observer/filing/0001866175-24-000038

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