Kosmos Energy plans to redeem 7 7/8% notes due 2021 via new notes

By Marisa Wong

Morgantown, W.Va., March 14 – EM-focused Kosmos Energy Ltd. intends to redeem all $525 million of its outstanding 7 7/8% senior secured notes due 2021 using proceeds from an offering of new senior notes, according to a news release.

The company announced on Thursday that it plans to offer $600 million of senior notes due 2026, proceeds of which will also be used to repay a portion of the outstanding debt under the company’s revolving credit facility.

Kosmos is a Dallas-based full-cycle deepwater oil and gas exploration and production company that has operations in Ghana, Equatorial Guinea, U.S. Gulf of Mexico, Mauritania, Senegal, Suriname, Ivory Coast, Namibia and elsewhere.

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