This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Kosmos to Divest Equatorial Guinea Asset; Dollar Bonds Jump
February 26, 2026
Kosmos Energy has agreed to sell its 40.375% non-operating working interest in the offshore Equatorial Guinea Ceiba Field and Okume Complex (Block G) to Panoro Energy for up to $219.5mn. The consideration includes $180mn upfront plus up to $39.5mn in contingent payments linked to production levels and oil prices. Panoro will acquire the Kosmos subsidiary that holds the stake, increasing its ownership in the assets to 54.625%. Trident Energy operates the block while GEPetrol holds a 5% revenue share. The transaction’s effective date was set for 1 January 2025, with completion anticipated by mid-2026. The Government of Equatorial Guinea has approved the deal, and it now awaits clearance from the Economic and Monetary Community of Central Africa. Kosmos plans to use the proceeds to reduce debt under its reserves-based lending facility and to strengthen liquidity. The company also expects around $100mn in cost savings over two years from lower capital expenditure and administrative expenses. Its management said that the sale reflects a portfolio “high-grading” strategy, i.e., monetizing mature, non-operated assets to focus capital on core projects while still retaining upside through contingent payments.
It’s 7.25% 2028s jumped by 3.9 points to trade at 86.1, yielding 15.8%
For more details, click here
Go back to Latest bond Market News
Related Posts:
Sinopec Returns to the Dollar Bond Market for a Second Time in 2017
September 13, 2017
S&P Upgrades Yanlord by One Notch to ‘BB’
March 16, 2018
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.