Kosmos expands revolver by $100 million, extends maturity three years

By Wendy Van Sickle

Columbus, Ohio, June 9 – Kosmos Energy Ltd. has expanded its corporate revolving credit facility by $100 million and extended its maturity date, the company said in a Tuesday news release.

Under the amended and restated facility, borrowing capacity has been increased to $400 million from $300 million, and the maturity date has been moved out three years to November 2018, the release said. Commitment fees have also been lowered to 30% of the margin.

Combined with its $1.5 billion reserves-based lending facility, Kosmos said it now has secured debt facilities totaling $1.9 billion, of which $300 million was drawn as of June 1.

Kosmos Energy is a Dallas-based oil exploration and production company with a focus in Africa.

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