Core Insights - The financing transaction involved a $400 million ABS XI note structured as a master trust, which was utilized for direct acquisition financing without the need for a bridge facility, thus saving time and costs [1] - The ABS product is highlighted for its ability to optimize the cost of capital for buyers and maximize asset value for sellers [1] - The tranche notes were priced at a blended coupon of 5.97%, indicating a competitive financing cost [1] Company Overview - Legado Capital Advisors is a leading advisory and capital solutions firm specializing in structured finance, strategic transactions, and capital market execution within the oil and gas sector [1] - The firm emphasizes a relationship-driven approach and deep industry expertise to help clients optimize their capital structures and achieve long-term value creation [1] Strategic Partnerships - The ABS transaction leverages a previously announced strategic partnership between Diversified and The Carlyle Group, enhancing the financing's credibility and potential impact [1] - This partnership is expected to strengthen Diversified's capital structure and provide long-term, low-cost funding aligned with the high-quality asset profile of Canvas Energy [1]
Legado Capital Successfully Closes Diversified Energy Corporation's $400,000,000 Acquisition Financing ABS Transaction