Kosmos Energy Strengthens Liquidity Position With Closing of $200M Gulf of Mexico Facility
Vinson & Elkins represented CSG Investments, Inc. (“CSG”), in connection with the structuring of a $200 million senior secured term loan financing made by Beal Bank USA and Trafigura Trading LLC to subsidiaries of Kosmos Energy LTD. (“Kosmos”) that own Kosmos’ U.S. Gulf of Mexico assets. The financing closed on September 30, 2020 and is secured by Kosmos’ U.S. Gulf of Mexico assets.
Founded and based in Dallas, Texas, Kosmos is a full-cycle deepwater independent oil and gas exploration and production company focused along the Atlantic Margins. Kosmos’ 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.
Also headquartered in Dallas, CSG is a global buy-and-hold institution providing flexible and creative capital solutions for all types of commercial and industrial customers. CSG Investments is an affiliate of Beal Financial Corporation, founded in 1988, which has over 30 years of disciplined operating history. Through BFC, it is also an affiliate of Beal Bank and Beal Bank USA, both strongly capitalized financial institutions.
The V&E team was led by partner Cris Dewar with assistance from associates Caitlin Snelson, Derrik Sweeney, Ariel Guerrero-Stewart and Catherine Briley. Also advising were partner Larry Nettles and counsel Larry Pechacek; and partner Shay Kuperman, senior associate Joclynn Townsend and associates Jack Moxon and John McEntire.
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