Kosmos Energy ups borrowing capacity

Equatorial Guinea

DALLAS, February 6, 2018 – US-based oil and gas producer Kosmos Energy has refinanced its reserves-based lending (RBL) facility to include recent acquisitions in Equatorial Guinea, the company announced in a press statement on Tuesday.

Kosmos, which is focused on hydrocarbons opportunities in West and Central Africa, raised its borrowing capacity from USD 1.3 billion to USD 1.5 billion and extended the loan maturity date to March 31, 2025. Additionally, amortisation has been pushed back to 2022.

“We are pleased to have refinanced our RBL facility, increasing our borrowing capacity through the incorporation of our increased reserves and production,” said Thomas P. Chambers, the company’s senior vice-president and CFO. “The financing, which was oversubscribed, saw strong appetite from both new and existing banks.”

Together with Trident Energy, Kosmos acquired Hess’ Ceiba and Okume assets offshore Equatorial Guinea in November 2017 for USD 650 million, in addition to being granted three PSCs by the Ministry of Mines and Hydrocarbons.

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