Borr Drilling Limited - Announces Pricing of Additional Senior Secured Notes Offering
Summary
HAMILTON, Bermuda, Dec. 9, 2025 /PRNewswire/ -- Borr Drilling Limited (NYSE: BORR) (the "Company") announced today that its wholly owned subsidiary Borr IHC Limited and certain other subsidiaries have priced an offering of additional 10.375% senior secured notes due 2030 (the "Additional Notes") for gross proceeds of approximately $165 million.The Additional Notes will have the same terms and conditions as the existing senior secured notes due 2030.The Company plans to use the proceeds from the Additional Notes offering, together with the proceeds from its previously announced equity offering, seller financing and, if necessary, available cash, for the acquisition of five premium jack-up rigs announced by the Company on December 8, 2025 and for general corporate purposes, which may include debt service, capital expenditures, funding of working capital and potential mergers and acquisitions. Settlement of the Additional Notes is expected on or about December 19, 2025 and is subject to customary closing conditions.This press release is for information purposes only and does not constitute or form part of an offer to sell or the solicitation of an offer to purchase or subscribe for securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. Forward-looking statements reflect knowledge and information available at, and speak only as of, the date they are made. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date hereof or to reflect the occurrence of unanticipated events. Readers are cautioned not to place undue reliance on such forward-looking statements.Questions should be directed to: Magnus Vaaler, CFO, +44 1224 289208This information was brought to you by Cision http://news.cision.com