Loan & DebtJun 30, 2026, 06:08 AM
Borr Drilling Redeems All 2028 & 2030 Senior Secured Notes
AI Summary
Borr Drilling Limited announced the completion of its previously announced tender offer and consent solicitation for its 10.000% Senior Secured Notes due 2028 and 10.375% Senior Secured Notes due 2030. The company received valid tenders for 95.95% of the 2028 Notes and 91.21% of the 2030 Notes. Following this, Borr Drilling redeemed all remaining outstanding notes using proceeds from its recently issued $1.1 billion 8.750% Senior Secured Notes due 2032 and $935 million 9.000% Senior Secured Notes due 2034.
Key Highlights
- 95.95% of 2028 Senior Secured Notes tendered and accepted.
- 91.21% of 2030 Senior Secured Notes tendered and accepted.
- 94.11% of aggregate Notes outstanding tendered.
- Redeemed all remaining outstanding 2028 and 2030 Senior Secured Notes.
- Issued $1,100,000,000 of 8.750% Senior Secured Notes due 2032.
- Issued $935,000,000 of 9.000% Senior Secured Notes due 2034.
Price Impact
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