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(RTTNews) - Kosmos Energy Ltd. (KOS), an upstream oil company, said on Wednesday that it has priced a private offering of $350 million 3.125 percent convertible senior notes due 2030, which represents a $50 million increase to the previously announced offering size.
The company also granted the initial purchasers an option to purchase up to an additional $50 million of notes. The offering is expected to be closed on March 8.
Kosmos estimates that the net proceeds from the offering will be approximately $340.4 million, or around $389 million.
The company intends to use the proceeds to pay down debts, pay the cost of capped call transactions, and expenses related to the offering.
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