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HAMILTON, Bermuda, Oct. 25, 2024 /PRNewswire/ — Borr Drilling Restricted (the “Company”) (NYSE: BORR) (OSE: BORR) introduced these days that its wholly-owned subsidiary Borr IHC Restricted has priced an providing of spare 10.375% senior attach notes due 2030 (the “Additional Notes”) for improper proceeds of roughly $175 million.
The Spare Notes may have the similar phrases and situations as the prevailing $515 million combination predominant quantity of senior attach notes due 2030.
The proceeds from the providing are meant to be impaired for the purchase and activation prices for the newbuild rig “Var”, which is anticipated to be delivered on November 15, 2024, in lieu of the in the past attach backyard financing, because the phrases and pricing for the Spare Notes are extra fine, and for basic company functions together with debt provider. Agreement of the notes providing is anticipated on or about November 8, 2024 and is matter to standard last situations.
This knowledge is regarded as to be inside of knowledge pursuant to the EU Marketplace Abuse Law and matter to the disclosure necessities pursuant to division 5-12 of the Norwegian Securities Buying and selling Occupation.
Remarkable word
This announcement isn’t being made in or into Canada, Australia, Japan, Hong Kong or in any alternative jurisdiction the place it might be prevented via appropriate regulation. This distribution is for info functions handiest and does no longer represent or mode a part of an trade in or solicitation of an trade in to buy or subscribe for securities in america or in any jurisdiction wherein, or to any individuals to whom, such providing, solicitation or sale could be illegal previous to registration or qualification beneath the securities rules of any jurisdiction. The securities referred to herein have no longer been and is probably not registered beneath the U.S. Securities Occupation of 1933 (the “U.S. Securities Act”) or appropriate shape securities rules, and might not be introduced or bought in america or to U.S. individuals until such securities are registered beneath the U.S. Securities Occupation, or an exemption from the registration necessities of the U.S. Securities Occupation is to be had.
Ahead browsing statements
The clicking shed come with forward-looking statements inside the that means of Division 21E of the Securities Trade Occupation of 1934, together with the predicted last time of the Spare Notes providing, the meant importance of proceeds and alternative non-historical statements. Those forward-looking statements are matter to diverse dangers, uncertainties and suppositions, together with dangers with regards to the last of the Spare Notes and untouched importance of proceeds and alternative dangers incorporated in our filings with the Securities and Trade Fee together with the ones prepared forth beneath “Risk Factors” in our annual file on Mode 20-F for the generation ended December 31, 2023 and in prospectuses filed with the Norwegian Monetary Supervisory Authority (FSA). Ahead-looking statements mirror wisdom and data to be had at, and discuss handiest as of, the time they’re made. Excluding as required via regulation, the Corporate undertakes incorrect legal responsibility to replace or revise publicly any forward-looking statements, whether or not on account of brandnew knowledge, hour occasions or in a different way, then the time hereof or to mirror the incidence of unanticipated occasions. Readers are cautioned to not park undue reliance on such forward-looking statements.
October 25, 2024
The Board of Administrators
Borr Drilling Restricted
Hamilton, Bermuda
CONTACT:
Questions must be directed to: Magnus Vaaler, CFO, +44 1224 289208
This knowledge was once dropped at you via Cision http://news.cision.com
SOURCE Borr Drilling Restricted
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