10:18 AM EDT, 05/20/2024 (MT Newswires) -- California Resources ( CRC ) said Monday it is planning to offer $500 million in total principal amount of senior unsecured notes due 2029.

The company expects to utilize the net proceeds, cash on hand, and borrowings under its revolving credit line for the repayment of the current debt of Aera Energy and its Aera Energy Services operating affiliate in connection with the pending merger with Aera, the energy and carbon management firm added.

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