Kirkland & Ellis counseled Diversified Energy Company PLC (LSE:DEC)(NYSE:DEC) on closing on an asset backed securitization (ABS) refinancing, creating the ABSVIII note. Diversified will use the proceeds from the transaction to repay the outstanding principal of the previously issued ABSIII and ABSV notes, retiring those notes from the company's outstanding debt. The additional proceeds from the transaction will be used to reduce outstanding borrowings under the company's revolving credit facility and for general corporate purposes. Read Diversified press release The Kirkland team was led by corporate associates Isaac Bate and Rizwan Popatia with assistance from corporate partners John Kaercher and Chris Heasley; asset finance & securitization partners Jeff O’Connor and Rudgee Charles; debt finance partners Lucas Spivey and Michelle Williamson and associate Kirby Swartz; derivatives partner Brett Ackerman; and tax partners David Wheat and Tom Evans and associate David Gilbert. Diversified’s in-house counsel Ben Sullivan and Jamie Adkins led the entire legal effort.