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California Resources Corporation Completes Financial Restructuring

California Resources Corporation will complete its financial restructuring and emerge from bankruptcy with a $540 million revolving credit facility, $300 million of secured notes and $200 million of second lien term loan from Ares.

California Resources Corporation Receives Additional Support for Restructuring Plan

California Resources Corporation (CRC) entered into an amended and restated restructuring support agreement with approximately 85% of the holders of its term loans due 2017 and 68% of the holders of its unsecured and deficiency debt claims.

July 27, 2020 California Resources Corporation | Todd A. Stevens Phil Neuffer

Ares Takes Part in California Resources Corporation’s Restructuring Support Agreement

California Resources Corporation (CRC) entered into a restructuring support agreement with Ares Management along with holders of approximately 84% of CRC’s 2017 term loans and 51% of CRC’s 2016 term loans.

July 17, 2020 Ares Management | California Resources Corporation | Elk Hills Power | Todd A. Stevens Phil Neuffer

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Tag Archives: California Resources Corporation

California Resources Corporation Completes Financial Restructuring

California Resources Corporation Receives Additional Support for Restructuring Plan

Ares Takes Part in California Resources Corporation’s Restructuring Support Agreement