Crescent Energy Co. announced a private placement offering of $400 million of convertible senior notes due 2031 to qualified institutional buyers under Rule 144A. Any shares issuable upon conversion of the notes will be unregistered and may be offered or sold only under an exemption from registration. The company said it plans to use proceeds to fund capped call transactions and, along with revolver borrowings, redeem its outstanding 9.250% senior notes due 2028.

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