11th Aug 2022 10:11
Diversified Energy Co PLC - Alabama, US-based energy producer and distributor - Converts revolving credit facility into sustainability-linked loan. The amendment extends the loan to August 2026 and reaffirms the borrowing base of EUR300 million. Says that the SLL emphasises the company's commitment to environmental, social and governance improvement, by incorporating targets on greenhouse gas emissions, asset retirement and safety-related performance.
Chief Executive Officer Rusty Hutson comments: "We are pleased to incorporate our commitments to emissions reductions, asset retirement and safety into the terms of our syndicated credit facility, making our SLL the company's fourth sustainability-linked instrument aligned with our ESG performance targets. These measurable sustainability-linked performance targets, if achieved, will reduce our cost of capital and increase our potential to attract new bank capital."
Current stock price: 130.70 pence, up 2.9% on Thursday
12-month change: up 22%
By Sophie Rose; [email protected]
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