Diversified Energy raises $300m to repay existing debt
Diversified Energy announced on Friday that it has raised $300m through the successful placement of new senior secured notes maturing in April 2029.
Diversified Energy Company
28 March 2025 08:27:43
Source: Sharecast
The FTSE 250 company said the notes carry a fixed annual coupon of 9.75%, payable semi-annually in arrears.
It said the proceeds would be used to repay existing debt and support general corporate purposes.
Diversified noted that the new debt issue was leverage-neutral, and would enhance cash flow, providing greater flexibility to invest in high-return opportunities.
Following the offering, the company’s total liquidity stood at around $440m.
DNB Markets, part of DNB Bank, acted as manager and bookrunner for the transaction.
At 0809 GMT, shares in Diversified Energy Company were up 0.19% at 1,036.93p.
Reporting by Josh White for Sharecast.com.