Simpson Thacher represented the initial purchasers, led by global coordinators Merrill Lynch International, the Standard Bank of South Africa Limited and Standard Chartered Bank, in the sale of an aggregate principal amount of $500 million 8.750% Senior Notes due 2031 by Kosmos Energy Ltd. (“Kosmos”).
Simpson Thacher also represented Merrill Lynch International as dealer manager for Kosmos’s concurrent cash tender offer to purchase up to (i) $400,000,000 aggregate principal amount of its outstanding 7.125% Senior Notes due 2026 and (ii) up to $100,000,000 aggregate principal amount of its outstanding 7.750% Senior Notes due 2027 and its 7.500% Senior Notes due 2028.
Kosmos used the net proceeds from the offering, together with cash on hand, to fund the tender offers and to pay related premiums, fees and expenses.
Kosmos is a full-cycle deepwater independent oil and gas exploration and production company focused along the Atlantic Margin. Since 2014, Simpson Thacher has represented financing sources on over $3.5 billion of debt and equity financings by Kosmos.
The Simpson Thacher team included David Azarkh, Matt Hart, Erin Camia, and Emma Li (Capital Markets); Matthew Hope (U.K. Corporate); Michael Mann and Eva Gao (Tax); Mike Isby and Tim Mulvihill (Environmental); J. Pasco Struhs (Executive Compensation and Employee Benefits); Bobbie Burrows (IP); and Jennie Getsin (Blue Sky).