Loan & DebtJun 11, 2026, 09:56 AM
Borr Drilling Prices Tender Offer for 2028 & 2030 Senior Secured Notes
AI Summary
Borr Drilling Limited announced the pricing terms for its previously disclosed tender offer and consent solicitation for its 10.000% Senior Secured Notes due 2028 and 10.375% Senior Secured Notes Due 2030. The Total Consideration for the 2028 Notes is $1,048.36 per $1,000 original principal amount, which includes an Early Tender Payment and a Consent Payment of $2.50. The offer is set to expire on June 24, 2026, and is subject to certain conditions, including a financing condition.
Key Highlights
- Borr Drilling announced pricing terms for its tender offer and consent solicitation for its 2028 and 2030 Senior Secured Notes.
- Total Consideration for 10.000% Senior Secured Notes due 2028 is $1,048.36 per $1,000 original principal amount.
- The offer includes a Consent Payment of $2.50 for each $1,000 original principal amount of 2028 Notes.
- Outstanding principal amount for the 2028 Notes is $1,128,129,659.88.
- The Tender Offer and Consent Solicitation Expiration Time is 5:00 p.m. New York City time on June 24, 2026.
- Citigroup Global Markets Inc. is acting as the dealer manager and solicitation agent.
Price Impact
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