Kosmos Energy Raises $350 Million in Nordic Bond Market to Refinance Debt
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An update from Kosmos Energy ( (KOS) ) is now available.
Kosmos Energy has priced a $350 million issuance of 11.25% senior secured bonds due 2031 in the Nordic bond market, to be issued by its subsidiary Kosmos Energy GTA Holdings and guaranteed by the parent company and several key operating subsidiaries. The company plans to use the proceeds to fund a tender offer for up to $250 million of its 7.750% Senior Notes due 2027, reduce borrowings under its reserve-based lending facility and support general corporate purposes, a move that effectively extends its debt maturity profile and diversifies its funding sources while potentially lowering near-term refinancing risk for stakeholders.
More about Kosmos Energy
Kosmos Energy is a deepwater exploration and production company focused on meeting global energy demand through diversified oil and gas production from offshore assets in Ghana, Equatorial Guinea, Mauritania, Senegal and the Gulf of Mexico. The NYSE- and LSE-listed group advances development projects in proven basins built on prior exploration success and emphasizes transparency, ethics, human rights, safety and environmental stewardship in its operations.
See more insights into KOS stock on TipRanks’ Stock Analysis page.
