EM-focused Kosmos Energy mandates banks ahead of $400 million offering of seven-year notes

By Paul A. Harris

Portland, Ore., Feb. 23 – Kosmos Energy Ltd. mandated BofA Securities Inc., ING Financial Markets LLC and Standard Chartered Bank to arrange calls with fixed income investors, according to market sources.

The company intends to sell $400 million of seven-year senior notes, subject to market conditions.

The Dallas-based full-cycle deepwater independent oil and gas exploration and production company has key assets in Ghana, Equatorial Guinea, Mauritania and Senegal, in addition to the U.S. Gulf of Mexico. Hence there is an emerging markets aspect to the deal, which is expected to be marketed to both high-yield and emerging markets accounts, a trader said.

Kosmos Energy plans to use proceeds from the Rule 144A and Regulation S notes sale to repay debt under its revolver and commercial debt facilities and for general corporate purposes.

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