Kosmos Energy Ltd., an oil exploration company, announced on Wednesday that it has set the price for a private offering of $350 million 3.125 percent convertible senior notes due 2030. This represents a $50 million enhancement to the size of the offering initially announced.
In addition to this, Kosmos has provided the initial purchasers with an opportunity to buy up to an extra $50 million worth of notes. The offering is estimated to be finalized by March 8.
Kosmos predicts that the net gains from this sale will be roughly $340.4 million, which could increase to around $389 million.
The company plans to utilize these proceeds to clear debts, support the cost of capped call transactions, and furnish expenses related to the offering.
