NYSE:DECOil and Gas
Higher‑Cost Nordic Bond Tap Might Change The Case For Investing In Diversified Energy (DEC)
Diversified Energy Company has recently completed a tap-on offering of US$200,000,000 in 9.75% senior secured bonds due April 2029 through its subsidiary Diversified Gas & Oil Corporation in the Nordic bond market, secured against U.S. bank accounts, key equity interests and certain intercompany loans.
This additional issuance, governed by tight leverage, asset coverage, equity and liquidity covenants, materially reshapes the company’s balance sheet discipline and future financial...