Latham & Watkins Advises Diversified Energy in Sustainability-Linked Securitized Financing

Diversified Energy Company (LSE: DEC) (Diversified) has announced its closing of the first asset backed securitization (ABS) with features aligned with the Sustainability-Linked Bond (SLB) Principles of the International Capital Markets Association. Diversified will use the ABS proceeds to reduce its outstanding revolving credit facility borrowings and create additional liquidity.

Latham & Watkins LLP represented Diversified, working closely with Ben Sullivan, EVP and General Counsel, John Crain, VP of Treasury, and Michelle Matthews, Associate General Counsel, on the transaction. Latham’s team was led by Austin partner David Miller and Houston partner Jeff Munoz, with Houston associates Alice Parker, Zainab Hashmi, and Morgan Moore, and Austin associates Gabi Hasson and Cecilia Turchetti. 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 and Washington, D.C. counsel Brett Ackerman; on structured finance matters by New York partner Loren Finegold; on bankruptcy structuring matters by New York partner David Hammerman; on tax matters by Houston partners Tim Fenn and Jim Cole, with Houston associate Emily Fawcett; and on environmental matters by Los Angeles counsel Josh Marnitz.