By Trend News Line 2024-03-19 11:42:02.
Crescent Energy Finance LLC Starts Cash Tender Offer for Senior Notes
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In a recent announcement, Crescent Energy Finance LLC, a subsidiary of Crescent Energy Company, revealed its plans to kick off a cash tender offer for its outstanding senior notes. The company is offering to purchase any and all of the 7.250% Senior Notes due 2026. Holders of these notes will be able to sell them at a purchase price of $1,018.83 per $1,000 of notes, in addition to accrued and unpaid interest.
Important Details of the Tender Offer
The Tender Offer is set to expire at 5:00 p.m., New York City time, on March 25, 2024. Holders of the Notes must tender them before the Expiration Time to be eligible for consideration. The settlement for the tendered Notes is expected to take place on March 26, 2024, with a redemption date of May 1, 2024, for any Notes that are not repurchased.
Conditions and Information
The Tender Offer is subject to certain conditions, including the completion of a notes offering by CE Finance. The company intends to use the net proceeds from the offering to fund the purchase of the Notes in the Tender Offer and to redeem any outstanding Notes. CE Finance has appointed BofA Securities as the exclusive Dealer Manager for the Tender Offer.
Forward-Looking Statements
The company has issued cautionary statements regarding forward-looking information, emphasizing that actual results may differ from expectations due to various factors. Crescent Energy Company has a portfolio of assets concentrated in Texas and the Rockies.
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Final Thoughts
In conclusion, Crescent Energy Finance LLC’s cash tender offer for its senior notes presents an opportunity for holders to sell their Notes at a specified purchase price. The company has outlined important details, conditions, and information related to the Tender Offer, aiming to provide clarity to stakeholders. The future settlement and redemption dates are key points to note for those interested in participating in the offer.
For more information, interested parties can contact BofA Securities at +1 (888) 292-0070 or visit the official website for detailed terms and conditions..
1. Crescent Energy Announces Tender Offer for Its Senior Notes
2. Crescent Energy Senior Notes due 2026 Tender Offer announced.
