Borr Drilling (BORR) has released an update.
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Borr Drilling Limited has announced the pricing of an additional $175 million in 10.375% senior secured notes due 2030. The proceeds will fund the acquisition and activation of a newbuild rig, “Var,” set for delivery on November 15, 2024, as well as for general corporate purposes. This strategic move aims to leverage more favorable terms compared to previously secured financing options.
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