2023-07-17 09:22:27 ET
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Crescent Energy ( NYSE: CRGY ) has planned a private placement of $250 million 9.250% senior notes due 2028, the company said Monday.
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The notes are being offered as additional notes under the indenture pursuant to which the issuer previously issued $400 million of 9.250% senior notes due 2028.
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The notes will have substantially the same terms, other than the issue date and issue price, as the existing $400 million notes.
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The notes and the existing notes will be treated as a single series of securities under the Indenture and will vote together as a single class.
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The notes will bear interest at the rate of 9.250% per year, payable on February 15 and August 15 of each year.
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Interest payments on the Notes will commence on August 15, 2023.
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The net proceeds from the offering will be used to repay a portion of the amounts outstanding under its revolving credit facility.
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The notes will mature on February 15, 2028.
For further details see:
Crescent Energy launches private placement of additional $250M notes