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Kosmos Energy Announces Pricing of Private Offering of Senior Secured Notes Due 2021

August 15, 2014

By a News Reporter-Staff News Editor at Energy Weekly News -- Kosmos Energy Ltd. ("Kosmos") (NYSE: KOS) announced the pricing of its previously announced private offering to eligible purchasers of $300 million aggregate principal amount of its 7.875% senior secured notes due 2021. The net proceeds from the offering, after deducting discounts, commissions and other expenses, are expected to be approximately $292.5 million. The offering is expected to close on August 1, 2014, subject to customary closing conditions. Kosmos intends to use the net proceeds from this offering to repay a portion of the outstanding indebtedness under its commercial debt facility and for general corporate purposes.

The securities offered have not been 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 secured 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.

Keywords for this news article include: Kosmos Energy Ltd.

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Source: Energy Weekly News

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