BIRMINGHAM, AL / ACCESSWIRE / October 31, 2022 / Diversified Energy Company PLC (LSE:DEC, Financial) ("Diversified" or the "Company") is pleased to announce that on 27 October 2022 Diversified and Oaktree Capital Management, L.P. ("Oaktree) jointly closed an ESG-aligned asset backed securitization ("ABS") of certain co-owned producing natural gas and oil assets located in Oklahoma (the "Assets"). This fourth ESG-aligned financing in 2022 is linked to key performance indicators ("KPI") based on emissions reduction targets. Diversified had previously pledged its portion of the Assets as collateral under the Company's Sustainability-Linked Loan ("SLL")(a). Diversified will use its ABS proceeds to repay all outstanding borrowings under its SLL and for general corporate purposes, resulting in current liquidity of approximately $300 million(b), inclusive of the financing of the ConocoPhillips acquisition announced on 28 July 2022.
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