Monday 12 February 2018

Kosmos Energy announced that it has refinanced its reserve based lending (RBL) facility. The RBL facility, which previously incorporated only the company’s Ghana assets, now includes the recently acquired producing assets in Equatorial Guinea as well as allowing the company the future flexibility to include the Greater Tortue development post final investment decision. The structure of the RBL includes an expansion feature which allows the facility size to be increased up to an additional $500 million in the future, at the company’s election.

In addition to the inclusion of new borrowing base assets, through the refinancing:

The borrowing capacity has been increased to $1.5 billion, up from $1.3 billion.

Date of maturity has been extended by four years to March 31, 2025.

Amortization has been extended by four years to March 31, 2022.

Commitment fees have been lowered.

Following the re-financing of the RBL, Kosmos’s total available liquidity increases to approximately $1.3 billion.