Diversified Energy Places $300 Mln Of Senior Secured Notes

(RTTNews) - Diversified Energy Company Plc (DEC), an energy company focused on natural gas and liquids, said on Friday that it has successfully placed $300 million of new senior secured notes. The new notes are due to mature in 2029 and will pay a fixed coupon of 9.75 percent per year.

The net proceeds from the senior secured notes will be used to repay 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," the company said in a statement.