Crescent Energy Finance LLC, a subsidiary of Crescent Energy Company, has announced the early results of its cash tender offer to purchase up to $500,000,000 aggregate principal amount of its outstanding 9.250% senior notes due 2028. The early tender date was July 7, 2025, and as of that date, holders had tendered $306,125,000 of the notes.
The terms of the offer included a tender offer consideration of $993.75 per $1,000 principal amount of notes, with an early tender premium of $50, making the total consideration $1,043.75 per $1,000 principal amount of notes. The offer also stated that holders would receive accrued and unpaid interest from the last interest payment with respect to the notes accepted for purchase.
The offer is set to expire on July 22, 2025, and payment for any notes validly tendered at or prior to the early tender date is expected to be made on July 9, 2025. The offer is not conditioned upon any minimum amount of notes being tendered and may be amended, extended, terminated, or withdrawn.
Crescent Energy has engaged BofA Securities as the exclusive dealer manager for the tender offer, and questions regarding the terms of the tender offer may be directed to them.
Crescent Energy Company, the parent company, is a U.S. energy company with a portfolio of assets concentrated in Texas and the Rockies.
This communication contains forward-looking information, and the offer is being made solely pursuant to terms and conditions set forth in the offer to purchase.
Given the information provided, it is evident that there has been substantial interest from holders of the notes, with a significant amount tendered during the early tender period. The offer has specific terms, including the tender offer consideration and the early tender premium, which are important factors for note holders to consider. As a result of these announcements, the company's shares have moved -0.43% on the market, and are now trading at a price of $9.25. Check out the company's full 8-K submission here.
