Simpson Thacher represented the initial purchasers, led by BofA Securities, Inc., in connection with the 144A/Regulation S offering of $700 million aggregate principal amount of 7.625% Senior Notes due 2032 by Crescent Energy Finance LLC, a subsidiary of Crescent Energy Company. Crescent Energy intends to use the net proceeds from the offering, together with additional borrowings under its revolving credit facility, to fund a cash tender offer (the “Tender Offer”) to purchase any and all of its 7.250% Senior Notes due 2026 (the “2026 Notes”), redeem any 2026 Notes that are not tendered and accepted for repurchase in the Tender Offer, and pay fees and expenses in connection therewith or with the offering of notes. The firm also represented BofA Securities, Inc. as dealer manager in connection with the Tender Offer.
Crescent Energy Company (NYSE: CRGY) is a U.S.-based energy company with a portfolio of assets concentrated in Texas and the Rockies.
The Simpson Thacher team included David Azarkh, Brian Rosenzweig, Richie Ragusa, Ryan Poché, and Andrew Scattergood (Capital Markets); Michael Mann (Tax); Rachelle Broida (Intellectual Property); Pasco Struhs (Executive Compensation and Employee Benefits); Michael Isby and Deepa Sarkar (Environmental); and Jennie Getsin (Blue Sky).