Kosmos Energy Ltd. filed a Form 8-K on November 2, 2026, disclosing that on October 30, 2026, it amended and restated its existing commercial debt facility by entering into a new amended and restated facility agreement.

Key Highlights

  • Final maturity extended: The amended and restated facility (A&R RBL) sets a new final maturity date of April 1, 2033.
  • Reduced facility size: Total facility size under the A&R RBL has been reduced to $1.2 billion, in line with total commitments.
  • Optional increase: The company has the option to increase total available commitments by up to an additional $550 million, for a total of $1.75 billion, subject to certain conditions and exceptions.
  • Interest margin: An applicable interest margin of 4.50% applies for the first three years, with subsequent increases during the amortization period.
  • New liquidity covenant: A minimum liquidity requirement of $200 million is added, to be tested semi-annually beginning March 31, 2027.
  • Fees and expenses: The company expects to incur approximately $20 million in fees and expenses, described as approximately 1.7% of total commitments, to be amortized over the term of the A&R RBL.
  • Amortization schedule: Principal reduction is to commence on October 1, 2029, continuing in equal amounts every six months thereafter until the final maturity date.

Kosmos Energy Amends Commercial Debt Facility on October 30, 2026

According to the filing, Kosmos Energy Ltd. (NYSE:KOS) entered into the A&R RBL on October 30, 2026, amending and restating its existing commercial debt facility. The company disclosed that the amended agreement extends the final maturity date to April 1, 2033, and adjusts the amortization schedule so that principal reduction commences on October 1, 2029, then continues in equal amounts every six months until maturity.

The filing states that the A&R RBL reduces total facility size to $1.2 billion in line with total commitments, while also providing the company an option, subject to certain conditions and exceptions, to increase total available commitments by up to $550 million, bringing the potential total to $1.75 billion. The applicable interest margin is set at 4.50% for the first three years, with increases during the amortization period, as disclosed in the filing. The filing also notes the functional removal of the debt service reserves account.

A new minimum liquidity covenant requiring the company to maintain at least $200 million in liquidity, tested semi-annually beginning March 31, 2027, is among the key amendments described. The company disclosed it expects approximately $20 million in fees and expenses associated with entering into the A&R RBL, which are expected to be amortized over the term of the agreement. The filing notes that the A&R RBL contains customary representations, warranties, covenants, and events of default, including payment defaults, covenant defaults, and cross-defaults to certain indebtedness, among others. The full text of the A&R RBL is to be filed as an exhibit to the company's annual report on Form 10-K for the year ended December 31, 2026.

What Was Disclosed

Kosmos Energy Ltd. disclosed the October 30, 2026 amendment and restatement of its commercial debt facility, including a maturity extension to April 1, 2033, a reduced facility size of $1.2 billion, a new minimum liquidity covenant, an applicable interest margin of 4.50% for the first three years, and approximately $20 million in expected fees and expenses.