• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, June 7, 2023
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Kosmos Energy to raise $400 million from Senior Notes Offering

October 20, 2021
Stephen KotochiebyStephen Kotochie
in Extractives/Energy
0
senior notes offering

Kosmos Energy

Kosmos Energy Ltd. has announced its intention to offer US$400 million aggregate principal amount of senior notes due 2027.

The net proceeds from the offering, together with cash on hand, will be used to refinance the US$400 million aggregate principal amount of private placement notes, the Company has issued to fund its acquisition of Anadarko WCTP Company.

Kosmos Energy is listed under the New York Stock Exchange and London Stock Exchange. Considering the terms under which the securities will be regulated, Kosmos indicated that it will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws.

RelatedPosts

Asante Gold Reports More Than $270 million Revenue in Gold Sales in the First Quarter of 2023

Bulk Oil Distribution Companies Lament Preferential Treatment of BOST in Fuel Allocation As their Losses Skyrocket to $1 million

CBOD Clarifies Its Stance On Gold-for-Oil Policy

In its press release, Kosmos noted that 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.

Accordingly, the senior notes and the related guarantees “will be offered only to persons reasonably believed to be qualified institutional buyers”, Kosmos indicated.  It further said, this includes buyers with exemption from registration set forth in Rule 144A under the Securities Act, and outside the United States. Also, eligibility of the senior notes will cover non-US persons with exemption from registration set forth in Regulation ‘S’ under the Securities Act.

  • Fitch Places Kosmos Energy on Rating Watch Positive; Rates Bond Issuance

This notwithstanding, Kosmos recently launched a registered underwritten public offering of 37,500,000 shares of common stock. According to Kosmos, the underwriters will be granted a 30-day option to purchase up to an additional 5,625,000 shares of common stock.

Again, net proceeds from this public offering is intended to repay outstanding borrowings under its commercial debt facility. This includes borrowings incurred to finance a portion of the acquisition of Anadarko WCTP Company.

Net Debts Outstanding and other Future Senior Notes Offering

In its second quarter results, Kosmos’s finances showed a US$2.1 billion of net debt and available liquidity of approximately US$0.8 billion. Comparing the net debt for the second quarter to that of the first quarter, Kosmos said the net debt realized, decreased. According to Kosmos, the decrease in net debt was primarily driven by increased cash generation from higher sales volumes and improving realized oil prices.

 For the same quarter, the Company generated a net loss of US$57 million, or US$0.14 per diluted share. The Company generated an adjusted net loss of US$10 million, or US$0.03 per diluted share for the second quarter of 2021.

  • Kosmos Energy, GNPC sink $750 million into Buying Occidental’s Oil Assets Offshore

The company’s recent Occidental asset purchase adds to its total debts as the transaction is said to have been funded by Barclays and Standard Chartered Bank. The total bridge loan amount provided Kosmos for a 29% stake in Occidental’s Jubilee (18%) and TEN fields (11%) is US$400 million. This bridge loan amount is expected to be refinanced by a future senior notes offering, Kosmos noted.

READ ALSO: FX Forward Rates Auction Oversubscribed, BoG Moves to Accept Target of US$75 Million

Tags: Anadarko WCTPKosmosSenior Notes

Related Posts

Asante Gold Reports More Than $270 million Revenue in Gold Sales in the First Quarter of 2023
Extractives/Energy

Asante Gold Reports More Than $270 million Revenue in Gold Sales in the First Quarter of 2023

June 2, 2023
Bulk Oil Distribution Companies Lament Preferential Treatment of BOST in Fuel Allocation As their Losses Skyrocket to $1 million
Extractives/Energy

Bulk Oil Distribution Companies Lament Preferential Treatment of BOST in Fuel Allocation As their Losses Skyrocket to $1 million

June 3, 2023
CBOD Clarifies Its Stance On Gold-for-Oil Policy
Extractives/Energy

CBOD Clarifies Its Stance On Gold-for-Oil Policy

June 1, 2023
TotalEnergies Secures a 20-Year License Renewal for Nigerian Block
Extractives/Energy

TotalEnergies Secures a 20-Year License Renewal for Nigerian Block

May 30, 2023
Monetisation Of Fiscal Deficit Lessening Monetary Policy – Prof. Bokpin
Extractives/Energy

Bank of Ghana Unveils Plans To Exit From Gold-for-Oil Programme To Stabilize Economy

May 26, 2023
CSOs Coalition Express Grave Concerns Over Aker Energy’s ‘Face-Saving’ Sale of Pecan Field for $1
Extractives/Energy

CSOs Coalition Express Grave Concerns Over Aker Energy’s ‘Face-Saving’ Sale of Pecan Field for $1

May 27, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post

Blue Chip Stocks Trade Flat as Activity Dips on the Second Weekday

Next Post

More Education Needed to Drive Home the Cashless Agenda

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.
Director for Elections and Research for the New Patriotic Party (NPP), Evans Nimako, has intimated that the report from the Economist Intelligence Unit (EIU) on election 2024, is not the final decision of Ghanaians.
General News

We Are Set To Go, NPP Is Looking Forward To Annexing Assin North Seat- Nimako

by Angeller AshongJune 7, 2023
Africa Has Technology and Innovation to Achieve Zero Hunger– Dr Adesina
Africa

Africa Has Technology and Innovation to Achieve Zero Hunger– Dr Adesina

by Stephen M.CJune 7, 2023
Regrettable To Lose 17 NDC MP’s In Recent Internal Primaries– Kyei-Mensah-Bonsu
General News

Regrettable To Lose 17 NDC MP’s In Recent Internal Primaries– Kyei-Mensah-Bonsu

by Samuel Y. OtibuJune 7, 2023
Sunak To Discuss Trade Issues With Biden
UK

Sunak To Discuss Trade Issues With Biden

by Sampson AnnorJune 7, 2023
Ghana’s Hope of Coming Out of Economic Quagmire Next Year Looks Gloomy As World Bank Cuts 2024 Global Growth Forecast
Economy

Ghana’s Hope of Coming Out of Economic Quagmire Next Year Looks Gloomy As World Bank Cuts 2024 Global Growth Forecast

by Gifty BansahJune 7, 2023
School Feeding Caterers Not All NPP Members- Minister of Gender
General News

School Feeding Caterers Not All NPP Members- Minister of Gender

by Samuel Y. OtibuJune 7, 2023
Director for Elections and Research for the New Patriotic Party (NPP), Evans Nimako, has intimated that the report from the Economist Intelligence Unit (EIU) on election 2024, is not the final decision of Ghanaians.
Africa Has Technology and Innovation to Achieve Zero Hunger– Dr Adesina
Regrettable To Lose 17 NDC MP’s In Recent Internal Primaries– Kyei-Mensah-Bonsu
Sunak To Discuss Trade Issues With Biden
Ghana’s Hope of Coming Out of Economic Quagmire Next Year Looks Gloomy As World Bank Cuts 2024 Global Growth Forecast
School Feeding Caterers Not All NPP Members- Minister of Gender
Snow
FIND OUT MORE

The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In