CRGYFN 7.750% 31Jul2029 Corp (USD)

Bond Factsheet

Matured/ Called

Crescent Energy Finance

Indicative

Full Lot

Bid Price

99.875

Change in Bid Price

Bid Yield (%)

Change in Bid Yield

Ask Price

100.125

Change in Ask Price

Ask Yield (%)

Change in Ask Yield

Indicative price as of 31 Jul 2026, 12:00am

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Bond Information

Crescent Energy Finance LLC explores and produces oil and natural gas.

Bond Issuer

Crescent Energy Finance

Guarantor

Subsidiaries

Announcement Date

13 Jul 2021

Issue Date

16 Jul 2021

Maturity Date

31 Jul 2029

Years to Maturity / Next Call

2.823 / 0.020

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

7.750

Coupon Type

Fixed

Annual Coupon Rate

7.750

Coupon Frequency

Semi Annually

Seniority

Senior Unsecured

Reference Rate

ISIN

USU51319AE89

CUSIP

BQ5087813

Bond Currency

USD

Total Issue Size

400,000,000

Outstanding Issue Size

2,938,000

Min. Investment Quantity (Nominal)

USD 2,000

Incremental Quantity (Nominal)

USD 1,000

Bond Type

High Yield Corporate

Bond Sector

Energy

Bond Sub Sector

Oil, Gas and Consumable Fuels

Issuer Credit Rating (S&P/ Fitch)

***/ BB-

Bond Credit Rating (S&P/ Fitch)

***/ BB-

Shariah Compliant

Exchange Listed

Others

Bond Feature(s)

Issuer Call

On or after July 31, 2024, the Company may redeem all or a portion of the Notes, on not less than 10 nor more than 60 days’ prior notice, in amounts of $2,000 or whole multiples of $1,000 in excess thereof, at the following redemption prices (expressed as percentages of the principal amount), plus accrued and unpaid interest, if any, thereon, to the applicable redemption date (subject to the rights of Holders of record on relevant record dates to receive interest due on the relevant interest payment date), if redeemed during the twelve-month period beginning on July 31 of the years indicated below:

On or after	Price
July 31, 2024	103.8750%
July 31, 2025	101.9375%
July 31, 2026 and thereafter	100.000%

Make Whole Call

The Notes may also be redeemed, in whole or in part, at any time or from time to time prior to July 31, 2024 at the option of the Company at a redemption price equal to 100% of the principal amount of the Notes redeemed plus the Applicable Premium as of, and accrued and unpaid interest, if any, to, the applicable redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date).

“Applicable Premium” means, with respect to any Note on any applicable redemption date, the greater of:

(1) 1.0% of the principal amount of such Note; and

(2) the excess, if any, of: (a) the present value at such redemption date of (i) the redemption price of such Note at July 31, 2024 (such redemption price being set forth in the table appearing in Section 3.07(a)) plus (ii) all required interest payments (excluding accrued and unpaid interest to such redemption date) due on such Note through July 31, 2024, computed using a discount rate equal to the Treasury Rate as of such redemption date plus 50 basis points; over (b) the principal amount of such Note.

Change Control Put

If a Change of Control Triggering Event occurs, unless the Company has given notice of redemption of all the Notes pursuant to Section 3.07, each Holder will have the right to require that the Company purchase all or any part (in minimum amounts of $2,000 or whole multiples of $1,000 in excess thereof) of such Holder’s Notes pursuant to the offer described below in this Section 4.17 (the “Change of Control Offer”). In the Change of Control Offer, the Company will offer to purchase all of the Notes, at a purchase price (the “Change of Control Purchase Price”) in cash in an amount equal to 101% of the principal amount of such Notes, plus accrued and unpaid interest, if any, to the date of purchase (the “Change of Control Purchase Date”), subject to the rights of Holders of record on relevant record dates to receive interest due on the relevant interest payment date.

“Change of Control” means the occurrence of any of the following events:

(1) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that a Person shall be deemed to have beneficial ownership of all securities that such Person has the right to acquire by conversion or exercise of other securities, whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of more than 50% of the total outstanding Voting Stock of the Company (or its successor by merger, consolidation or purchase of all or substantially all its assets) (measured by voting power rather than the number of shares);

(2) during any period of two consecutive years, individuals who at the beginning of such period (or, if later, the Issue Date) constituted the Board of Directors of the Company (together with any new directors whose election to such board or whose nomination for election by the stockholders of the Company was approved by a vote of a majority of the directors then still in office who were either directors at the beginning of such period (or, if later, the Issue Date) or whose election or nomination for election was previously so approved), cease for any reason to constitute a majority of such Board of Directors then in office;

(3) the Company sells, assigns, conveys, transfers, leases or otherwise disposes of (other than by way of merger or consolidation), in one or a series of related transactions, all or substantially all of the assets of the Company and the Restricted Subsidiaries, taken as a whole, to any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act); or

(4) the Company is liquidated or dissolved or adopts a plan of liquidation or dissolution other than in a transaction which complies with Section 5.01.

“Change of Control Triggering Event” means the occurrence of both (x) a Change of Control and (y) a Rating Decline or, so long as any Existing Senior Notes remain outstanding, the obligation of the Company to make an offer to repurchase as a result of the occurrence of such Change of Control pursuant to the indentures governing the Existing Senior Notes.

Equity Call

At any time and from time to time prior to July 31, 2024, the Company may use funds in an amount not exceeding the amount of the net cash proceeds of one or more Equity Offerings to redeem up to an aggregate of 35% of the aggregate principal amount of Notes issued under this Indenture (including the principal amount of any Additional Notes issued under this Indenture) at a redemption price equal to 107.75% of the aggregate principal amount of the Notes redeemed, plus accrued and unpaid interest, if any, to the redemption date (subject to the rights of Holders of record on relevant record dates to receive interest due on the relevant interest payment date). At least 65% of the aggregate principal amount of Notes (including the principal amount of any Additional Notes issued under this Indenture) shall remain outstanding immediately after the occurrence of such redemption. In order to effect this redemption, the Company shall complete such redemption no later than 180 days after the closing of the related Equity Offering.

Additional Note

Effective January 09, 2023, Laredo Petroleum, Inc. will change its name to Vital Energy.

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