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Crescent Energy Company (NYSE:CRGY) ("we" or "our") announced today that, subject to market conditions, its indirect subsidiary Crescent Energy Finance LLC (the "Issuer") intends to offer for sale in a private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the "Securities Act"), to eligible purchasers, $500 million aggregate principal amount of Senior Notes due 2034 (the "Notes"). The Notes will be guaranteed on a senior unsecured basis by all of the Issuer's subsidiaries that guarantee the Issuer's existing notes and the indebtedness under its revolving credit facility (the "revolving credit facility").
The Issuer intends to use the net proceeds from this offering, together with additional borrowings under the revolving credit facility and cash on hand, if needed, to fund the tender offer to purchase for cash up to $500 million aggregate principal amount of the Issuer's outstanding 9.250% Senior Notes due 2028 (the "2028 Notes"), pursuant to the tender offer that commenced concurrently with this offering (the "Tender Offer"), and any fees and expenses in connection therewith or with this offering. Any portion of the net proceeds from this offering that is not used to fund the consummation of the Tender Offer will instead be used to repay amounts outstanding under the revolving credit facility or for general corporate purposes. This offering is not contingent on the consummation of the Tender Offer. The Tender Offer is subject to the satisfaction of certain conditions, including, but not limited to, the completion of this offering.
Posted In: CRGY
