Business
Diversified Energy Announces Successful Place...
Diversified Energy Announces Successful Place....
About this update from Diversified Energy Company
[{"type":"text","content":"\n\n \n \n\n Diversified Energy Announces Successful Placement of 4-year Senior Secured Notes\n\nBIRMINGHAM, 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. For further information, please contact: Diversified Energy Company PLC+1 973 856 2757Doug [email protected] Vice President, Investor Relations & FTI [email protected]. & UK Financial Public Relations About DiversifiedDiversified is a leading publicly traded energy company focused on natural gas and liquids production, transport, marketing, and well retirement. Through our unique differentiated strategy, we acquire existing, long-life assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. Recognized by ratings agencies and organizations for our sustainability leadership, this solutions-oriented, stewardship approach makes Diversified the Right Company at the Right Time to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value. Forward-Looking Statements This announcement contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning Diversified and the Contemplated Bond Offering. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. These forward...