Kosmos Energy Ltd. has priced $500 million in aggregate principal amount of 8.750% senior notes due 2031, some of which will go to pay outstanding debt.

The offering is expected to close Sept. 24 and will be used to fund a portion of its 7.125% senior notes due 2026, 7.750% senior notes due 2027 and 7.500% senior notes due 2028. Kosmos said some proceeds are expected to pay related premiums, fees and expenses.

In April, the independent E&P refinanced its reserve-based lending (RBL) facility, extending its maturity for an additional three years.

With final maturity set for December 2029, the RBL facility’s size has been increased by about 8% to $1.35 billion from $1.25 billion, with current commitments of approximately $1.2 billion.

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