Kosmos Energy taps banks, expects to sell $400 million 5.5-year notes

By Paul A. Harris

Portland, Ore., Oct. 19 – Kosmos Energy Ltd. mandated Barclays and Standard Chartered Bank as joint global coordinators to organize a global investor call at 2 p.m. ET on Tuesday ahead of an expected $400 million offering of 5.5-year senior notes, according to a market source.

The Rule 144A and Regulation S notes come with two years of call protection.

The notes are expected to garner a B+ rating from S&P Global Ratings and a B rating from Fitch Ratings.

The Houston-based deepwater energy exploration and production company plans to use the proceeds plus cash on hand to pay off the bridge notes issued to fund its acquisition of Anadarko WCTP Co.

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