LONDON (ShareCast) - (Sharecast News) - Diversified Energy announced on Friday that it has raised $300m through the successful placement of new senior secured notes maturing in April 2029.
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.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE