Diversified Energy Company has completed a tap-on offering of $200 million in principal amount of 9.75% senior secured bonds due 2029, issued by its wholly-owned subsidiary, Diversified Gas & Oil Corporation $(DGOC)$, in the Nordic bond market. This follows a previous issuance of $300 million of the same bonds in April 2025. The bonds are guaranteed by Diversified Energy and secured by all of the company’s U.S. bank accounts, equity interests in DGOC and its direct operating subsidiaries, as well as certain intercompany loans. The bonds mature on April 9, 2029, with interest payable semi-annually. The agreement includes financial covenants such as a maximum leverage ratio of 3.5 to 1.00, a minimum asset coverage ratio of 1.20 to 1.00, minimum book equity of $500 million, and minimum liquidity of 25% of the outstanding bonds. Holders may require repurchase of their bonds at 101% of principal in the event of certain change of control or delisting events.

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