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Crescent Energy dips on $400M senior notes offering

Jan. 25, 2023 9:47 AM ETCrescent Energy Company (CRGY) StockBy: Preeti Singh, SA News Editor2 Comments
  • Crescent Energy (NYSE:CRGY) shares fell 8% Wednesday morning after it announced a private placement of $400M of senior notes due 2028 by its indirect subsidiary Crescent Energy Finance.
  • The notes will be guaranteed on a senior unsecured basis by all of the issuer's subsidiaries that guarantee its existing notes and the indebtedness under its revolving credit facility.
  • Crescent Energy Finance plans to use the net proceeds from the offering to repay a portion of the amounts outstanding under its revolving credit facility.
 

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