Crescent Energy Finance LLC, a subsidiary of Crescent Energy Company (NYSE: CRGY), has announced the early results of its cash tender offer to purchase up to $500 million of its outstanding 9.250% senior notes due 2028. The offer, which expired at 5:00 p.m., New York City time, on July 7, 2025, received valid tenders totaling $306,125,000 in aggregate principal amount at the early tender date.
The tender offer consideration for the 9.250% senior notes due 2028 is $993.75 per $1,000 principal amount, with an early tender premium of $50, resulting in a total consideration of $1,043.75. Holders of the notes tendered at or prior to the early tender date will receive the total consideration, including the early tender premium.
The offer is set to expire at 5:00 p.m., New York City time, on July 22, 2025, unless extended or earlier terminated. Payment for notes tendered at or prior to the early tender date is expected to be made on July 9, 2025, while payment for notes tendered after the early tender date and at or prior to the expiration date is expected to be made on the business day following the expiration date.
The offer is not conditioned upon any minimum amount of notes being tendered and may be amended, extended, terminated, or withdrawn. The company has retained BofA Securities as the exclusive dealer manager for the tender offer.
Crescent Energy Company, the parent company, has a portfolio of assets concentrated in Texas and the Rockies.
This communication does not constitute an offer to purchase nor a solicitation of an offer to sell securities. The offer is being made solely pursuant to the terms and conditions set forth in the offer to purchase. Following these announcements, the company's shares moved -0.43%, and are now trading at a price of $9.25. If you want to know more, read the company's complete 8-K report here.
