Successful Placement of 4-year Senior Secured Notes
Diversified Energy places $300 million of 4-year senior secured notes at 9.75% coupon.
- Senior secured notes placed $300 million
- Coupon 9.75% per annum
- Maturity April 2029
- Total liquidity (inclusive of proceeds) approximately $440 million
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BIRMINGHAM, Ala., March 28, 2025 (GLOBE NEWSWIRE) -- Diversified Energy Company PLC (LSE: DEC) (NYSE: DEC) (“Diversified” or the “Company”), an independent energy company focused on natural gas and liquids production, transportation, marketing and well retirement, today announces that it has successfully placed $300 million of new senior secured notes. The new notes are due to mature in April 2029 and will pay a fixed coupon of 9.75% per annum, payable semi-annually in arrears.
The net proceeds from the senior secured notes will be used for repayment of existing debt and for general corporate purposes. The new class of debt provides increased liquidity, which currently stands at approximately $440 million inclusive of the proceeds of the note offering, is leverage-neutral, and will enhance cash flow, allowing flexibility for continued investment in high rate of return opportunities.
DNB Markets, a part of DNB Bank ASA, acted as Manager and Bookrunner in the bond offering.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.