0001609253-26-000086
SEC filingCalifornia Resources Corporation entered into the Ninth Amendment to its credit agreement, reducing borrowing costs via pricing grid amendments and reaffirming the $1.5 billion borrowing base.
The Ninth Amendment to the April 26, 2023 Amended and Restated Credit Agreement primarily aims to lower California Resources Corporation's borrowing costs through modifications to the pricing grid, alongside other technical changes. This directly benefits investors by reducing interest expenses on the revolving credit facility. Concurrently, the Administrative Agent and Lenders reaffirmed the $1.5 billion Borrowing Base, signaling continued lender confidence in the Company's collateral and financial position as part of the scheduled April 2026 redetermination. Effectiveness required executed documents, no ongoing defaults, and payment of fees including legal costs for Latham & Watkins LLP. Credit parties, including numerous subsidiaries like Berry Corporation and Aera Energy LLC, ratified their obligations under related guarantees and security documents. The amendment maintains all other Credit Agreement terms intact, with no novation or waiver of provisions.