Diversified Energy Company (LSE: DEC) (Diversified) has announced the closing of its asset backed securitization (ABS) of jointly owned assets with features aligned with the Sustainability-Linked Bond Principles of the International Capital Markets Association. Diversified will use its portion of the ABS proceeds to repay its outstanding revolving credit facility borrowings and for general corporate purposes.
Latham & Watkins LLP represented Diversified in the transaction. Latham’s team was led by Austin partner David Miller, Houston partner Stephen Szalkowski, and Houston associate Alice Parker, with assistance from Houston associates Ashley Nguyen, Zainab Hashmi, Austin Sheehy, and Wole Oluborode. Advice was provided on finance matters by Houston counsel Natalie McFarland, with Houston associate Kirby Swartz; on derivative-related matters by New York partner Yvette Valdez, Washington, D.C. counsel Brett Ackerman, with New York associates Tiiu Lemsalu and Adam Fovent; on structured finance matters by New York partner Loren Finegold; on structuring matters by New York partner David Hammerman; on securities matters by Houston partner Trevor Lavelle; on tax matters by Houston partners Tim Fenn and Jim Cole, with Houston associate Dylan White; and on environmental matters by Los Angeles/Houston counsel Josh Marnitz.