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

January 2, 2024
A Texas-based team advised Diversified in upstream asset-backed securitization aligned with ICMA Sustainability-Linked Bond Principles.

Diversified Energy Company (LSE: DEC) (NYSE:DEC) has announced the closing of its asset-backed securitization (ABS) of assets with features aligned with the Sustainability-Linked Bond Principles of the International Capital Markets Association. Diversified will use 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 and Houston partner Stephen Szalkowski, with Houston associates Zainab Hashmi, Corynn Wilson, Carlyle Reid, and Molly Elkins, Austin associate Mason Taylor, and Los Angeles associate Celia Mishra. Advice was provided on derivative-related matters by New York partner Yvette Valdez, with New York associate Tiiu Lemsalu; on finance matters by Houston counsel Natalie McFarland, with Houston associate Kirby Swartz; on structured finance matters by New York partner Loren Finegold, with New York associate Ed Comber; on structuring matters by New York partner David Hammerman; on tax matters by Houston partners Tim Fenn and Jim Cole, with Houston associate Dylan White; and on environmental matters by Los Angeles/Houston partner Josh Marnitz.