Crescent Energy Announces Pricing of $700 Million Private Placement of 7.625% Senior Notes Due 2032

Vinson & Elkins served as issuer’s counsel in connection with the private placement of $700 million aggregate principal amount of 7.625% senior notes due 2032 (the “Notes”) by Crescent Energy Finance LLC (“the Issuer”), an indirect subsidiary of Crescent Energy Company.

The Issuer used the net proceeds from the offering of the Notes, together with additional borrowings under its revolving credit facility, to purchase for cash any and all of the Issuer’s outstanding 7.250% senior notes due 2026 (the “2026 Notes”), pursuant to the tender offer that commenced concurrently with the offering of the Notes (the “Tender Offer”), and to fund the full redemption of any 2026 Notes not purchased in the Tender Offer. The offering of the Notes closed on March 26, 2024.

Vinson & Elkins also advised the Issuer in connection with the concurrent Tender Offer. The Tender Offer closed on March 26, 2024.

The Vinson & Elkins corporate team was led by partners Doug McWilliams, Jackson O’Maley and David Wicklund and senior associate Alex Lewis, with assistance from associates Nate Richards, Chase Browndorf, Autumn Simpson, Kylie Paradowski and Chris Chiavaroli. Also advising were partners Lina Dimachkieh and Wendy Salinas and associate Jeff Slusher, David D’Alessandro and Dario Mendoza and associate Cassandra Zarate.

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