Kosmos Energy Announces Pricing of Its Senior Notes Due 2026
22 March 2019 - 7:30AM
Business Wire
Kosmos Energy Ltd. (“Kosmos”) (NYSE: KOS) announced today the
pricing of $650 million aggregate principal amount of its 7.125%
senior notes due 2026. The offering is expected to close on April
4, 2019, subject to customary closing conditions. Kosmos intends to
use the net proceeds from the offering to fund the redemption of
all of its outstanding 7.875% Senior Secured Notes due 2021, of
which there is $525 million aggregate principal amount outstanding,
to repay a portion of the outstanding indebtedness under its
revolving credit facility and to pay fees and expenses related to
the redemption, repayment and the offering.
The securities offered will not be registered under the
Securities Act of 1933, as amended (the “Securities Act”), or any
state securities laws and unless so registered, the securities may
not be offered or sold in the United States without registration or
an applicable exemption from the registration requirements of the
Securities Act and applicable state securities or blue sky laws and
foreign securities laws. The senior notes and the related
guarantees were offered only to qualified institutional buyers in
reliance on the exemption from registration set forth in Rule 144A
under the Securities Act, and outside the United States, to
non-U.S. persons in reliance on the exemption from registration set
forth in Regulation S under the Securities Act.
This press release is being issued pursuant to, and in
accordance with, Rule 135c under the Securities Act, and it is
neither an offer to sell nor a solicitation of an offer to buy the
notes or any other securities and shall not constitute an offer to
sell or a solicitation of an offer to buy, or a sale of, the notes
or any other securities in any jurisdiction in which such offer,
solicitation or sale is unlawful.
About Kosmos Energy
Kosmos is a full-cycle deepwater independent oil and gas
exploration and production company focused along the Atlantic
Margins. Our key assets include production offshore Ghana,
Equatorial Guinea and U.S. Gulf of Mexico, as well as a world-class
gas development offshore Mauritania and Senegal. We also maintain a
sustainable exploration program balanced between proven basin
infrastructure-led exploration (Equatorial Guinea and U.S. Gulf of
Mexico), emerging basins (Mauritania, Senegal and Suriname) and
frontier basins (Cote d’Ivoire, Namibia and Sao Tome and Principe).
As an ethical and transparent company, Kosmos is committed to doing
things the right way. The company’s Business Principles articulate
our commitment to transparency, ethics, human rights, safety and
the environment.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical facts,
included in this press release that address activities, events or
developments that Kosmos expects, believes or anticipates will or
may occur in the future are forward-looking statements. Kosmos’
estimates and forward-looking statements are mainly based on its
current expectations and estimates of future events and trends,
which affect or may affect its businesses and operations. Although
Kosmos believes that these estimates and forward-looking statements
are based upon reasonable assumptions, they are subject to several
risks and uncertainties and are made in light of information
currently available to Kosmos. When used in this press release, the
words “anticipate,” “believe,” “intend,” “expect,” “plan,” “will”
or other similar words are intended to identify forward-looking
statements. Such statements are subject to a number of assumptions,
risks and uncertainties, many of which are beyond the control of
Kosmos, which may cause actual results to differ materially from
those implied or expressed by the forward-looking statements.
Further information on such assumptions, risks and uncertainties is
available in Kosmos’ Securities and Exchange Commission (“SEC”)
filings. Kosmos undertakes no obligation and does not intend to
update or correct these forward-looking statements to reflect
events or circumstances occurring after the date of this press
release, except as required by applicable law. You are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. All
forward-looking statements are qualified in their entirety by this
cautionary statement.
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version on businesswire.com: https://www.businesswire.com/news/home/20190321005756/en/
Investor RelationsJamie Buckland+44 (0) 203 954
2831jbuckland@kosmosenergy.comorRhys
Williams+1-214-445-9693rwilliams@kosmosenergy.com
Media RelationsThomas
Golembeski+1.214.445.9674tgolembeski@kosmosenergy.com
Kosmos Energy (LSE:KOS)
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