California Resources Corporation (CRC) said on Wednesday that it intends to offer and sell $400 million in aggregate principal amount of senior unsecured notes due 2034 in a private offering.
The company intends to use the net proceeds from this offering, together with cash on hand and debt, to repay the existing debt of Berry Corporation in connection with the pending business combination with Berry.
CRC will also use the proceeds to pay fees and expenses in connection with the Berry merger and the offering of the notes.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.