Kosmos Energy extends $1.2 billion lending facility

Kosmos Energy has successfully completed the amendment and extension of its $1.2 billion reserve-based lending (RBL) facility. The facility, which is secured against the company’s production assets in Ghana, has had its final maturity date extended from December 2029 to April 2033.

Of the total $1.2 billion commitment, $750 million has been drawn at closing. The amended terms include a reduction in the initial pricing margin to the Secured Overnight Financing Rate (SOFR) plus 4.5%, a 0.25% decrease from the previous margin. Scheduled repayments are set to commence in 2031, following a three-year period before amortization begins.

In a separate development, the company is preparing to report quarterly earnings. Following a previous quarter where revenues reached $607.6 million, market analysts are anticipating year-on-year revenue growth of approximately 51.9%.