CSG Investments, Inc. Announces $200M Term Loan for Kosmos Energy's Gulf of Mexico Business Unit
PLANO, Texas, Oct. 12, 2020 /PRNewswire/ -- CSG Investments, Inc., a global buy-and-hold institution headquartered in Dallas, Texas, announces a $200 million senior secured term loan maturing in five years for Kosmos Energy Ltd.'s Gulf of Mexico business unit on September 30, 2020, with funding provided by Beal Bank USA and Trafigura Trading LLC.
Kosmos Energy Ltd. ("Kosmos", NYSE: KOS, LSE: KOS.L) is a well-established and well-regarded exploration and production company with high-quality assets that are sustainable through the oil and gas business cycle. Kosmos' Gulf of Mexico deepwater assets generate substantial cash flow, even in today's challenging commodity price environment.
"Beal Bank was able to look past the short-term commodity price outlook and look to the significant value of Kosmos' Gulf of Mexico assets. CSG Investments, Inc. was able to structure a transaction that met both our needs and the lender's needs," said Neal Shah, Chief Financial Officer of Kosmos.
"We are pleased to extend credit to high quality counterparties like Kosmos and high-quality assets like their Gulf of Mexico assets. This transaction reaffirms our commitment to the oil and gas sector. We expect the credit needs in the sector to continue and we expect to be an active player for the foreseeable future," said Jacob Cherner, President of CSG Investments, Inc.
Vinson & Elkins LLP served as legal advisor to CSG Investments, Inc.
About CSG Investments, Inc.
CSG Investments, Inc. is a global buy-and-hold institution headquartered in Dallas, Texas. We provide flexible and creative capital solutions for all types of commercial and industrial customers. CSG Investments, Inc. is a direct, one-stop source of capital for up to $600 million per transaction. For additional information, please contact Farzin Dinyarian ([email protected]) and Hans Hubbard ([email protected]).
About Beal Bank
Beal Bank, based in Plano, Texas, and Beal Bank USA, based in Las Vegas, Nevada, are part of Beal Financial Corporation, one of the nation's largest privately owned financial institutions. Both banks have a well-earned reputation as stable, strongly capitalized financial institutions, with combined total assets in excess of $10 billion as of June 30, 2020. Each bank's core service is to provide depositors with competitive rates on certificates of deposits (CDs). Through affiliates, both banks are also active in financing commercial real estate acquisition and development; acquiring individual loans and loan portfolios; and financing and funding loans and syndication interests in loans secured by tangible assets in such industries as real estate, lodging, energy and power, manufacturing, timber, and transportation and distribution. Beal Bank and Beal Bank USA are members of the FDIC.
About Kosmos Energy
Kosmos is a full-cycle deepwater independent oil and gas exploration and production company focused along the Atlantic Margins. Our key assets include production offshore Ghana, Equatorial Guinea and U.S. Gulf of Mexico, as well as a world-class gas development offshore Mauritania and Senegal. Kosmos is listed on the New York Stock Exchange and London Stock Exchange and is traded under the ticker symbol KOS. As an ethical and transparent company, Kosmos is committed to doing things the right way. The Company's Business Principles articulate our commitment to transparency, ethics, human rights, safety and the environment. Read more about this commitment in our Corporate Responsibility Report. For additional information, visit www.kosmosenergy.com.
Contact: |
Farzin Dinyarian |
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Hans Hubbard |
SOURCE CSG Investments, Inc.
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