Crescent Energy Co (CRGY): debt financing — Crescent Energy amends credit facility: borrowing base cut to $3.5B, maturity extended to 2031

Crescent Energy Co

Borrowing base reduced to $3.5B from $3.9B as April 2026 scheduled redetermination.
Revolving loan maturity extended to May 19, 2031 from Oct 22, 2030.
Up to $600M of new debt exempt from borrowing base reduction (0.25x) until Oct 2026 redetermination.
Aggregate elected commitments unchanged at $2.0B; maximum credit amount remains $6.0B.
Leverage covenant tightened to 3.00x from 2.75x (section 10.5(i)) and 3.00x from 2.50x (section 10.6(i)).

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Crescent Energy Co amended credit facility of $3.5 billion with Wells Fargo Bank, National Association maturing May 19, 2031.

Instrument: credit facility
Principal: $3.5 billion
Counterparty: Wells Fargo Bank, National Association
Maturity: May 19, 2031
Event: amendment

Exact text from the filing

the Credit Agreement Amendment (i) provides for a decrease in the borrowing base from $3.9 billion to $3.5 billion

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Crescent Energy Co amended Fifteenth Amendment to Credit Agreement with Wells Fargo Bank, National Association, as administrative agent, collateral agent and a letter of credit issuer, and the other lenders and letter of credit issuers party thereto from time to time valued at $600.0 million (effective 2026-05-18).

Action: amendment
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association, as administrative agent, collateral agent and a letter of credit issuer, and the other lenders and letter of credit issuers party thereto from time to time
Value: $600.0 million
Effective: 2026-05-18

Exact text from the filing

On May 18, 2026, Crescent Energy Finance LLC, a Delaware limited liability company (“Crescent Finance”) and a wholly owned subsidiary of Crescent Energy Company (NYSE: CRGY) (“Crescent”), entered into that certain Fifteenth Amendment to Credit Agreement (the “Credit Agreement Amendment”), which amended Crescent’s existing Credit Agreement, dated as of May 6, 2021

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Source: SEC EDGAR

accession 0001866175-26-000095

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