Crescent Energy Finance LLC—an indirect subsidiary of Crescent Energy Co.—intends to offer for sale in a private placement $250 million aggregate principal amount of 9.250% senior notes due 2028, Crescent Energy announced in a July 17 news release.

The notes due 2028 are being offered in addition to an existing offer of $400 million aggregate principal amount of 9.250% senior notes due 2028, issued on Feb. 1. The terms for the new senior notes will be identical to the terms of the existing notes, with the exception of issue date and price.

The notes mature on February 15, 2028 and will pay interest at the rate of 9.250% yearly, payble on Feb. 15 and Aug. 15 each year. Crescent plans to use the net proceeds from this offering to repay a portion of its debt under its revolving credit facility.

Crescent Energy Co. is an independent energy company in the U.S. with assets across the Lower 48.