05:46 PM EST, 12/04/2024 (MT Newswires) -- Crescent Energy ( CRGY ) said late Wednesday it priced a $400 million private placement of 7.625% senior notes due 2032.

The offering size was raised from the previously announced $300 million to $400 million.

Net proceeds from the private placement will be used to fund the cash portion of Ridgemar's acquisition, reduce outstanding borrowing, and for general corporate purposes, according to the company.

Crescent expects to close the offering on Dec. 11.