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New debt facility 'a big win' for Diversified Gas & Oil

Published: 08:16 23 Feb 2018 GMT

Rusty Hutson, chief executive of Diversified Gas & Oil plc (LON:DGOC), tells Proactive they've negotiated a new US$500mln debt facility at less than half the cost of their previous arrangement.

The five-year senior secured revolving credit facility has been led by Key Bank and will carry an interest rate of Libor + 2.5%-3.25% compared to Libor +8.5% currently.

Diversified Energy announces closing of innovative deal to unlock current...

  Diversified Energy CEO Rusty Hutson joined Steve Darling from Proactive to share news regarding an innovative transaction that the company has closed. This transaction has allowed Diversified Energy to unlock additional value from its existing asset base while also improving liquidity and...

on 1/2/24