Event Publicly Available Information:
California Resources Corporation and its Lenders have entered into certain forbearance agreements with respect to missed interest payments due on May 29, 2020. The underlying loan documents provide for a 5 day grace period for such payments and no payments were made prior to the end of the grace period.
8K
Loan Agreement (1.5L)
Loan Agreement (1.25L)
Bloomberg Article
WSJ Article
| Auction Settlement Terms | |
| Deliverable Obligations | Final List - Issue Number 2020061001 (California Resources Corporation) - 06/29/20 |
| Auction Timeline | Common Event Determination Date: June 10, 2020 Auction Date: July 7, 2020 Auction Settlement Date: the later of three Business Days after the Auction Final Price Determination Date and July 10, 2020 |