25th Sep 2025 14:03
Kosmos Energy Ltd - Africa-focused oil and gas company - Wholly-owned subsidiary Kosmos Energy Gulf of Mexico Operations LLC enters a senior secured term loan facility with Shell Trading (US) Co, an energy trading business of London-based oil major Shell PLC. Kosmos says the facility provides up to USD250 million for the repayment of its outstanding unsecured notes. It comprises two tranches, the first worth USD150 million to be drawn at close, while the remaining USD100 million will be available for drawing until April 1. Kosmos adds that the facility has a SOFR plus 3.75% interest rate, with a final maturity date of four years after closing. The loan is secured against the borrower's assets in the Gulf of Mexico.
"We continue to be proactive in improving the resilience of the company's balance sheet in a volatile commodity price environment by raising new liquidity on attractive terms and addressing near-term maturities," says Chief Financial Officer Neal Shah. "With production near record high levels and capital at multi-year lows, closing the term loan facility complements our near-term goal of organically reducing net debt through free cash flow generation from our high-quality assets while also continuing to grow our strategic relationship with Shell in the Gulf of America."
Kosmos current stock price: 135.00 pence, up 2.7% on Thursday in London
12-month change: down 56%
Shell current stock price: 2,679.50p, up 0.2%
12-month change: up 5.8%
By Emma Curzon, Alliance News reporter
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