Kosmos Energy Ltd. (KOS) Form 8-K — Nov 2, 2026
Kosmos Energy amended and restated its reserve-based lending facility on October 30, 2026, extending the final maturity date to April 1, 2033 with amortization beginning October 1, 2029. The amended facility's total commitments were reduced to $1.2 billion, with an option to increase available commitments by up to $550 million for a total of $1.75 billion, and an interest margin of 4.50% for the first three years. Lenders added a new $200 million minimum liquidity covenant tested semi-annually from March 31, 2027, and functionally removed the debt service reserves account; the company expects roughly $20 million in fees amortized over the facility term.
Key figures
- Debt Amount
- $1.2 billion (total facility commitments)
- Interest Rate
- Applicable margin of 4.50% for first three years, with subsequent increases during amortization
- Maturity Date
- April 1, 2033
- Fees expenses
- $20 million (~1.7% of total commitments)
- Accordion capacity
- $550 million optional increase (total up to $1.75 billion)
- Amortization start
- October 1, 2029, semi-annual installments
- Minimum liquidity covenant
- $200 million tested semi-annually beginning March 31, 2027
AI analysis
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