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California Resources Plans Private Offering of $400 Million Notes

BY MT Newswires | CORPORATE | 09/24/25 10:03 AM EDT

10:03 AM EDT, 09/24/2025 (MT Newswires) -- California Resources (CRC) said Wednesday it intends to sell $400 million of senior unsecured notes due 2034 in a private offering.

The company said it plans to use the net proceeds, along with cash on hand and borrowings, to help repay Berry's (BRY) existing debt in connection with their pending merger and to pay fees and expenses related to the merger and the offering of the notes.

Shares of California Resources (CRC) and Berry each rose over 2% in recent trading.

Price: 56.26, Change: +1.20, Percent Change: +2.18

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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