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California Resources Plans $550 Million Private Notes Offering

BY MT Newswires | CORPORATE | 09:24 AM EDT

09:24 AM EDT, 06/16/2026 (MT Newswires) -- California Resources (CRC) said Tuesday it intends to sell $550 million of senior unsecured notes due 2035 through a private placement.

The debt instruments will be backed by all existing and certain future units of the company that currently secure its credit line and other outstanding senior notes, the company said.

Net proceeds from the sale, along with cash reserves or revolving credit borrowings, will be used to redeem its outstanding $550 million of 8.250% senior notes due 2029, California Resources (CRC) said.

Shares of the company were down 1% pre-bell Tuesday.

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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