Borr Drilling Limited – Completing financial restructuring and conditions for equity offering
Reference is made to Borr Drilling Limited's ("Borr Drilling" or the "Company") (NYSE: BORR, OSE: BDRILL) stock exchange notices dated May 20 and May 21, 2020. The Company is pleased to announce it has obtained significant amendments to facilities from its secured lenders and shipyards that will provide total liquidity improvement of more than $315 million in the period to the first quarter of 2022. These amendments have now been agreed with the following key terms: · Deferral of the delivery of five newbuild jack-ups rigs until mid-2022, representing estimated liquidity improvement