California Resources Corporation Announces Private Offering of $600 Million of Senior Unsecured Notes
13 Janeiro 2021 - 10:36AM
Business Wire
California Resources Corporation (NYSE: CRC) (the “Company”)
announced today that, subject to market and other conditions, it
intends to offer and sell to eligible purchasers $600 million in
aggregate principal amount of senior unsecured notes due 2026 (the
“Notes”). The Notes will be guaranteed by all of the Company’s
existing subsidiaries that guarantee its revolving credit facility
and certain future subsidiaries. The Company intends to use the net
proceeds from this offering to repay in full its second lien term
loan and repay all outstanding senior secured notes due 2027
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, with the remainder to be used to
repay a portion of the outstanding borrowings under its revolving
credit facility.
The Notes have not been, and will not be, registered under the
Securities Act of 1933, as amended (the “Securities Act”), or any
state securities laws and 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 the rules promulgated thereunder and applicable state
securities laws. The Notes will be offered only to persons
reasonably believed to be qualified institutional buyers in
reliance on Rule 144A under the Securities Act and non-U.S. persons
in transactions outside the United States in reliance on Regulation
S under the Securities Act.
This press release does not and shall not constitute an offer to
sell or the solicitation of an offer to buy any Notes, nor shall
there be any offer, solicitation or sale of Notes 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.
Forward-Looking Statement
Disclosure
All statements, except for statements of historical fact, made
in this release regarding activities, events or developments the
Company expects, believes or anticipates will or may occur in the
future, such as statements regarding the proposed offering and the
intended use of proceeds, are 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. All forward-looking
statements speak only as of the date of this release. Although the
Company believes that the plans, intentions and expectations
reflected in or suggested by the forward-looking statements are
reasonable, there is no assurance that these plans, intentions or
expectations will be achieved. Therefore, actual outcomes and
results could materially differ from what is expressed, implied or
forecast in such statements. Except as required by law, the Company
expressly disclaims any obligation to and does not intend to
publicly update or revise any forward-looking statements.
The Company cautions you that these forward-looking statements
are subject to all of the risks and uncertainties incident to the
Company’s business, most of which are difficult to predict and many
of which are beyond the Company’s control. These risks include, but
are not limited to, the risks described under the heading “Risk
Factors” in the Company’s Annual Report on Form 10-K for the year
ended December 31, 2019 and its subsequently filed Quarterly
Reports on Form 10-Q.
About California Resources
Corporation
California Resources Corporation is the largest oil and natural
gas exploration and production company in California. The Company
operates its world-class resource base exclusively within the State
of California, applying complementary and integrated infrastructure
to gather, process and market its production. Using advanced
technology, the Company focuses on safely and responsibly supplying
affordable energy for California by Californians.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210113005539/en/
CRC Contacts: Scott
Espenshade (Investor Relations) (818) 661-6010
Scott.Espenshade@crc.com
Margita Thompson (Media) (818) 661-6005
Margita.Thompson@crc.com
California Resources (NYSE:CRC)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
California Resources (NYSE:CRC)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024