Finance & Investing | Fundraising | Capital Markets | Private Equity Activity
Kosmos Strengthens Borrowing Base by $100 Million
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Kosmos Energy Ltd. reported an amendment and restatement of its corporate revolving credit facility. Three significant changes have been made:
Borrowing capacity has been increased to $400 million, up from $300 million Date of maturity has been extended by three years to November 2018, and Commitment fees have been lowered to 30% of the margin.Combined with its $1.5 billion reserves-based lending facility, Kosmos now has secured debt facilities totaling $1.9 billion, of which only $300 million was drawn as of June 1, 2015.
Thomas P. Chambers, senior vice president and chief financial officer, said: "The amendment to our corporate revolving credit facility enhances our already strong liquidity position. The continued support we have received from our relationship banks is an affirmation…
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