Borr Drilling Launches $150M Secured Notes Offering

Borr Drilling (BORR) has released an update.

Borr Drilling Limited has successfully priced a $150 million offering of its 10.000% senior secured notes due 2028, which will be used primarily for acquiring and activating the newbuild rig ‘Vali’. This move comes as a strategic decision to replace previously secured yard financing with more favorable terms. The settlement of the notes is anticipated for mid-August 2024, subject to standard closing conditions.

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