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 $150 million aggregate principal amount of 7.250% Senior Notes due 2026 (the “Notes”). The Notes are being offered as additional notes under the indenture (the “Indenture”) pursuant to which the Issuer issued, on May 6, 2021, $500 million aggregate principal amount of 7.250% Senior Notes due 2026 (the “Existing Notes”). The Notes will have substantially identical terms, other than the issue price, the issue date and the first interest payment date, as the Existing Notes, and the Notes and the Existing Notes will be treated as a single class of securities under the Indenture. The Notes mature on May 1, 2026 and pay interest at the rate of 7.250% per year, payable on May 1 and November 1 of each year. The Issuer intends to use the net proceeds from this offering to repay a portion of the amounts outstanding under its revolving credit facility.
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 the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Issuer plans to offer and sell the Notes only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and to persons outside the United States pursuant to Regulation S under the Securities Act.
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.