Kosmos gets $200 million of term loans, both maturing in five years

By Wendy Van Sickle

Columbus, Ohio, Oct. 6 – Kosmos Energy Gulf of Mexico Operations, LLC and Kosmos Energy GOM Holdings, LLC entered into a senior secured term loan credit agreement on Sept. 30 with Trafigura Trading LLC and an affiliate of Beal Bank and CLMG Corp. as administrative agent and term loan collateral agent, according to an 8-K filing with the Securities and Exchange Commission.

The term loan includes two five-year tranches, a $150 million term loan A facility and a $50 million term loan B facility.

There is an accordion feature providing for up to $100 million of incremental commitments.

Of the term loan A facility, $50 million will be loaned to Kosmos Energy Gulf of Mexico, LLC to repay intercompany debt, and the remainder will be used for working capital and general operating expenses. The term loan B will be used to fully repay Kosmos Energy Gulf of Mexico Operations’ obligations under the prepayment agreement dated June 26.

Interest will accrue at a benchmark rate plus 600 basis points per annum.

Kosmos is an oil and gas exploration and production company based in Dallas.

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