Borr Drilling Limited – Announces Pricing of Offering of Additional 10.375% Senior Secured Notes due 2030 For Gross Proceeds of $175 million
Hamilton, Bermuda, October 25, 2024. Borr Drilling Limited (the “Company”) (NYSE and OSE: BORR) announced today that its wholly-owned subsidiary Borr IHC Limited has priced an offering of additional 10.375% senior secured notes due 2030 (the “Additional Notes”) for gross proceeds of approximately $175 million. The Additional Notes will have the same terms and conditions as the existing $515 million aggregate principal amount of senior secured notes due 2030. The proceeds from the offering are intended to be used for the acquisition and activation costs for the newbuild rig “Var”,