Diversified Energy Company PLC’s wholly‑owned subsidiary, Diversified Gas & Oil Corporation, completed a $200 million tap issue of its senior secured bonds due April 2029 on January 28 2026, bringing the total outstanding under the 2029 secured bonds to $500 million.
The transaction was book‑run by DNB Carnegie, part of DNB Bank ASA, and the bonds carry a 9.75 % coupon. They are issued under a separate ISIN until a prospectus is approved, after which they will be merged with the existing secured bonds. Proceeds are earmarked for general corporate purposes, giving the company flexibility to fund future acquisitions and operational initiatives without diluting shareholders.
This financing expands Diversified Energy’s debt capacity while preserving its investment‑grade, non‑recourse structure. The company has previously issued $300 million of the same bonds in April 2025, and the new tap issue reinforces its ability to raise capital in a favorable market to support its strategy of acquiring, operating, and optimizing mature, long‑life energy assets.
Diversified Energy’s recent acquisitions—including the $1.275 billion purchase of Maverick Natural Resources in March 2025 and the acquisition of Canvas Energy LLC in November 2025—illustrate the company’s focus on building a portfolio that generates consistent free cash flow. The new debt issuance provides the financial flexibility needed to pursue similar opportunities while maintaining a strong balance sheet.
The bonds are offered to qualified institutional buyers under Rule 144A and are not registered under the U.S. Securities Act, indicating a private capital‑markets transaction that aligns with the company’s strategy of accessing low‑cost, high‑quality debt to fund growth.
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