Kosmos Energy to start roadshow for $300 million notes on Monday

By Paul A. Harris

Portland, Ore., July 18 – Kosmos Energy Ltd. plans to start a roadshow on Monday in London for a $300 million offering of seven-year senior secured notes (expected ratings /CCC+/B), according to a syndicate source.

Subsequent roadshow stops include New York on Tuesday, Boston on Wednesday and the West Coast of the United States on Thursday.

Global coordinator and joint physical bookrunner Barclays will bill and deliver. BNP Paribas is also a global coordinator, joint physical bookrunner for the Rule 144A and Regulation S for life offer.

BofA Merrill Lynch, HSBC, Credit Agricole CIB, SG CIB, Standard Bank and Standard Chartered Bank are bookrunners.

Citigroup Global Markets, Credit Suisse Securities (USA) LLC, ING, MUFG, Natixis and Nedbank Capital are co-managers.

The notes come with three years of call protection, and feature a three-year 35% equity clawback at par plus the coupon and a 101% poison put.

The oil and gas exploration and production company plans to use the proceeds to repay a portion of its outstanding debt and for general corporate purposes.

Kosmos Energy is based in Hamilton, Bermuda and has an office in Dallas. It has operations in Ghana, Ireland, Mauritania, Morocco and Suriname.

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