Crescent Energy Announces Pricing of Upsized $200 Million Private Placement of Additional 7.250% Senior Notes Due 2026
Crescent Energy Company (NYSE: CRGY) announced a private placement of $200 million in 7.250% Senior Notes due 2026, increasing from a previously announced $150 million. The offering is set to close on February 10, 2022, and proceeds will be used to repay part of its revolving credit facility. The Notes will pay interest bi-annually, starting May 1, 2022, and are offered to eligible institutional buyers under Rule 144A and Regulation S of the Securities Act. The Notes will be treated as a single class with existing notes issued in May 2021.
- Increased offering size from $150 million to $200 million.
- Interest rate of 7.250% offers attractive returns.
- Proceeds will bolster liquidity by repaying revolving credit facility.
- Notes not registered under the Securities Act may limit market for investors.
The Notes are being offered as additional notes under the indenture (the “Indenture”) pursuant to which the Issuer issued, on
The Notes have not been registered under the Securities Act, or any state securities laws, and, unless so registered, the Notes 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.
About
Cautionary Statement Regarding Forward-Looking Information
Additionally, 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, adverse market conditions, governmental regulations, and the impact of world health events such as the ongoing COVID-19 pandemic. All statements, other than statements of historical facts, included in this communication that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control. Consequently, actual future results could differ materially from our expectations due to a number of factors, including, but not limited to, those items identified as such in the Final Prospectus, dated
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,
View source version on businesswire.com: https://www.businesswire.com/news/home/20220207005927/en/
IR@crescentenergyco.com
Source:
FAQ
What is the recent announcement by Crescent Energy Company regarding CRGY?
What are the terms of the new Senior Notes issued by CRGY?
When is the closing date for the Crescent Energy bond offering?
How will Crescent Energy use the proceeds from the bond offering?