Loan & DebtMay 22, 2026, 04:22 PM
Crescent Energy Credit Agreement Amended: Borrowing Base Cut to $3.5B
AI Summary
Crescent Energy Finance LLC, a subsidiary of Crescent Energy Co, entered into the Fifteenth Amendment to its Credit Agreement on May 18, 2026. The amendment decreases the borrowing base from $3.9 billion to $3.5 billion, reflecting the April 1, 2026 scheduled redetermination. It also extends the maturity date for revolving loans to May 19, 2031, from October 22, 2030, and allows for the incurrence of up to $600.0 million in additional indebtedness without triggering a borrowing base reduction during a specified period. The aggregate elected commitments remain at $2.0 billion.
Key Highlights
- Borrowing base decreased from $3.9 billion to $3.5 billion.
- Maturity date for revolving loans extended to May 19, 2031.
- Previous revolving loan maturity date was October 22, 2030.
- Up to $600.0 million of certain additional indebtedness excluded from borrowing base reduction until October 2026.
- Aggregate elected commitments maintained at $2.0 billion.
Price Impact
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