Borr Drilling Limited announces agreement to defer $1.4 billion of debt maturities and yard instalments to 2025
Hamilton, Bermuda, 27 December 2021: Borr Drilling Limited (the “Company”) (NYSE and OSE: BORR) is pleased to announce that it has reached agreements in principle with its largest creditors, the Singaporean yards, to refinance and defer a combined $1.4 billion debt maturities and delivery instalments from 2023 to 2025. This is a major step forward in the Company’s previously announced target to address its debt maturities and commitments currently due in 2023. In return for these concessions, the Company has agreed to make cash repayments on the accrued costs and capitalised PIK interest