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California Resources to repay term loan, revolver debt with notes
By Sara Rosenberg
New York, Jan. 13 – California Resources Corp. plans to repay in full its second-lien term loan and a portion of the outstanding borrowings under its revolving credit facility using some of the proceeds from a $600 million senior unsecured notes offering, according to a market source.
Remaining proceeds from the notes will be used to repay all of the outstanding EHP notes.
California Resources is a Santa Clarita, Calif.-based oil and natural gas exploration and production company.
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