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An announcement from Crescent Energy Company Class A ( (CRGY) ) is now available.
Crescent Energy Finance LLC, a subsidiary of Crescent Energy Company (NYSE: CRGY), has issued $250 million in 7.375% Senior Notes due 2033, expanding on their existing $750 million notes. These notes, guaranteed by the issuer’s subsidiaries but not by Crescent Energy or its managing member, have an interest payable semi-annually, starting January 2025. The issuer plans to redeem these notes before maturity under specific conditions and has outlined covenants limiting certain financial activities of its subsidiaries. The proceeds from this offering are set to reduce the company’s revolving credit facility debt, with the sale targeted at institutional buyers and international investors, bypassing public registration requirements.
Learn more about CRGY stock on TipRanks’ Stock Analysis page.