10:03 AM EDT, 09/24/2025 (MT Newswires) -- California Resources ( CRC ) said Wednesday it intends to sell $400 million of senior unsecured notes due 2034 in a private offering.

The company said it plans to use the net proceeds, along with cash on hand and borrowings, to help repay Berry's (BRY) existing debt in connection with their pending merger and to pay fees and expenses related to the merger and the offering of the notes.

Shares of California Resources ( CRC ) and Berry each rose over 2% in recent trading.

Price: 56.26, Change: +1.20, Percent Change: +2.18