Diversified Gas & Oil Plc
Description
Diversified Gas & Oil Plc, the U.S. based owner and operator of natural gas, natural gas liquids, and oil wells and midstream assets, is pleased to announce the successful completion of its securitized financing arrangement, originally announced on 30 October 2019.
Closed inaugural $200 million securitized financing with 5% coupon; 10-year amortizing note; 17-year final maturity; secured by ~21.6% working interest of certain upstream asset cash flows (fully owned & controlled by DGO); and10-year hedging on 85% of the production volumes of the collateralized assets to provide stable cash flow.