California Resources Corp.
Description
Priced private offering of 2026 senior unsecured notes previously announced Jan. 13 at par. Proceeds will be used to repay in full its second lien term loan and repay all outstanding 2027 senior secured notes previously issued by its wholly-owned subsidiary that indirectly owns all of the assets associated with its Elk Hills power plant and gas processing facilities. Remaining proceeds will be used to repay a portion of the outstanding borrowings under its revolving credit facility.