---
title: "California Resources Completes $550 Million 7.25% Senior Notes Due 2035 to Refinance 2029 Debt"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/291008929.md"
description: "California Resources completed a $550 million private offering of 7.25% senior unsecured notes due 2035 on June 26, 2026. The proceeds were used to redeem its outstanding $550 million 8.25% notes due 2029 at 104.125% plus accrued interest. This refinancing aims to reduce interest costs. The new notes are guaranteed by certain subsidiaries and bear interest payable semi-annually starting January 15, 2027."
datetime: "2026-06-26T21:03:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/291008929.md)
  - [en](https://longbridge.com/en/news/291008929.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/291008929.md)
generator: "portal-rs"
---

# California Resources Completes $550 Million 7.25% Senior Notes Due 2035 to Refinance 2029 Debt

California Resources entered into an Indenture and completed a private offering of $550 million of 7.25% senior unsecured notes due 2035. Interest accrues from June 26, 2026 and is payable semi-annually starting January 15, 2027. The company used proceeds, along with cash and/or revolver borrowings, to redeem its $550 million 8.25% notes due 2029 at 104.125%, with accrued interest; the redemption closed June 26, 2026. The new notes are guaranteed by certain subsidiaries on a senior unsecured basis.

**Agreement details:**

-   **Agreement type**: Indenture governing 7.25% senior unsecured notes due 2035
-   **Counterparty**: Wilmington Trust, as trustee
-   **Signed / Effective**: Jun 26 2026 / same
-   **Duration / Termination**: Through Jan 15 2035
-   **Reason**: Refinance higher-coupon 2029 notes and reduce interest costs

Original SEC Filing: California Resources Corp \[ CRC \] - 8-K - Jun. 26, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**