Kosmos Energy Ltd. (NYSE: KOS) has confirmed 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
- 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.