Crescent Energy Announces Pricing of $400 Million Private Placement of 9.250% Senior Notes Due 2028
Crescent Energy Company (NYSE: CRGY) announced a private placement of $400 million in 9.250% Senior Notes due February 15, 2028. The notes, priced at par, will have interest payable semi-annually on February 15 and August 15, with the first payment occurring on August 15, 2023. Proceeds are intended to reduce outstanding amounts under its revolving credit facility. The offering is set to close on February 1, 2023, pending customary conditions. The notes are offered only to qualified institutional buyers and are not registered under the Securities Act. Forward-looking statements indicate potential risks, including market conditions and regulatory changes.
- Successfully priced $400 million in 9.250% Senior Notes, indicating strong market interest.
- Use of proceeds to reduce debt under revolving credit facility, potentially strengthening financial position.
- No registration under the Securities Act poses risks for potential investors.
- Forward-looking statements highlight potential risks, including economic conditions and price volatility.
The Notes and the related guarantees have not been registered under the Securities Act, or any state securities laws, and, unless so registered, the Notes and the guarantees may not be offered or sold in
This communication shall not constitute an offer to sell, or the solicitation of an offer to buy, the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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Cautionary Statement Regarding Forward-Looking Information
This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on current expectations. The words and phrases “should”, “could”, “may”, “will”, “believe”, “think”, “plan”, “intend”, “expect”, “potential”, “possible”, “anticipate”, “estimate”, “forecast”, “view”, “efforts”, “target”, “goal” and similar expressions identify forward-looking statements and express our expectations about future events. This communication includes statements regarding this private placement and the use of proceeds therefrom that may contain forward-looking statements within the meaning of federal securities laws. We believe that our expectations are based on reasonable assumptions; however, no assurance can be given that such expectations will prove to be correct. A number of factors could cause actual results to differ materially from the expectations, anticipated results or other forward-looking information expressed in this communication, including liquidity and financial market conditions, including rising interest rates and associated policies of the
Many of such risks, uncertainties and assumptions are beyond our ability to control or predict. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. We do not give any assurance (1) that we will achieve our expectations or (2) concerning any result or the timing thereof.
All subsequent written and oral forward-looking statements concerning this offering, the use of proceeds therefrom,
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IR@crescentenergyco.com
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