Borr Drilling Limited Announces Information on Potential Equity Offering
Source: www.gulfoilandgas.com 7/14/2022, Location: South America
Borr Drilling Limited refers to its communication of 14 July 2022 regarding the agreements in principle reached with secured creditors for a refinancing of a majority of its secured debt. The Company announces that the refinancing is to be partially enabled by equity, which we plan to raise after 11 August 2022 when the Company will report its Q2 numbers.
The proceeds of the potential equity raise are expected to be used to partially paydown certain secured facilities. The company targets to raise up to $250 million in the offering which could be reduced in case of syndication of facilities, additional asset sales or joint ventures at attractive prices can be realized.
