Posted by OilVoice Press - OilVoice
DALLAS, Texas, August 3, 2018 - Kosmos Energy(NYSE/LSE: KOS) announced today an amendment and restatement of its corporate revolving credit facility. Three significant objectives were achieved:
· Borrowing capacity remains at $400 million
· Date of maturity has been extended by approximately three and one-half years to May 31, 2022, and
· Facility costs have been lowered from LIBOR plus a six percent margin to LIBOR plus a five percent margin
"The amendment and extension to our corporate revolving credit facility enhances our already strong liquidity position. The improvement in terms reflects the growth and quality of our production base and the continued long-term support we have received from our banks is an affirmation of our strong relationships and track-record for financial prudence," said Thomas P. Chambers, senior vice president and chief financial officer.
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