EUROPE/AFRICA

摘要

Kosmos energy (B/B) was poised to print a US$300m seven-year non-call three senior secured new notes issue on Friday at a yield of 7.875%, inside guidance of 8.00%-8.25%. The oil and gas exploration company's main areas of operation are the unexplored regions of the Atlantic Margin, especially West Africa. The main asset of US-based Kosmos, which has a market cap of about US$3.8bn, is the Jubilee field in Ghana, in which it has a 24.1% working interest, according to Fitch. In 2013, the company generated US$645m in Ebitdax (Ebitda before exploration expenses), added the ratings agency. However, the company is constrained by its limited market share and lower proved reserve life than its main peers. Another risk, said Fitch, is Ghana, which has relatively weak public finances.