Diversified Energy Co Increases 2029 Bonds to $500M

By Chris Stiles • Wednesday, January 28 12:07 • Permanent Link

Diversified Energy Company (NYSE: DEC, LSE: DEC) has announced the successful placement of a USD 200 million tap issue of outstanding senior secured bonds due April 2029 (ISIN NO0013513606). With this placement, the total bond amount outstanding under the 2029 secured bonds will increase to USD 500 million.

The net proceeds from the tap issue will be used for general corporate purposes. DNB Carnegie, a part of DNB Bank ASA, acted as the sole bookrunner in connection with the tap issue.

This tap issue represents a significant financial move for Diversified Energy Company as it seeks to bolster its financial position and pursue its strategic objectives. The company's decision to increase the total bond amount outstanding under the 2029 secured bonds indicates its confidence in the bond market as a source of financing.

This development reflects the company's commitment to optimizing its capital structure and leveraging opportunities in the current market environment. It also underscores Diversified Energy Company's proactive approach to managing its financial resources and pursuing its long-term growth and value creation objectives. Following these announcements, the company's shares moved 0.24%, and are now trading at a price of $12.47. Check out the company's full 8-K submission here.

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