Borr Drilling Ltd. will release its financial results for the fourth quarter 2020 on Friday, February 26, 2021. A conference call and webcast will be held at 15:00 CET . The earnings report and presentation will be available from the Investor Relations section on www.borrdrilling.com. In order to listen to the presentation, you may do one of the following: a) Webcast Please use the following link [...]
Reference is made to Borr Drilling Ltd.'s stock exchange release on 21 January 2021, and the contemplated equity offering of USD 40 million in new depository receipts. Borr Drilling is pleased to announce that the board of directors of the Company has, due to very high demand, increased the size of the offering to USD 46 million, and approved the subscription and allocation of a total of 54,117,647 in new depository [...]
Reference is made to Borr Drilling Ltd.'s stock exchange announcements of January 22, 2021, relating to the pricing of the equity offering through the subscription and allocation of a total of 54,117,647 in new depository receipts , representing the beneficial interests in the same number of the Company's underlying common shares, each at a subscription price of USD 0.85 per Offer Share , raising gross proceeds of USD 46 [...]
With reference to the press release 19 January, Borr Drilling Ltd. has now received approvals from each of the creditors in connection with the proposed liquidity improvement plan. The Company is working on definitive documentation to reflect these terms expected to be concluded shortly. A presentation by the Company is attached to this release and available on the Company's website. Forward looking statements This [...]
Borr Drilling Ltd. announces that in connection with Company's previously announced liquidity improvement plan, the Company intends to offer up to USD 40 million in new depository receipts , representing the beneficial interests in the same number of the Company's underlying common shares, each with a par value of USD 0.05 . The subscription price will be set through an accelerated bookbuilding process. Certain investors [...]
OSLO, Norway, Jan. 19, 2021 /PRNewswire/ -- Borr Drilling Ltd. is pleased to confirm that the liquidity improvement plan announced in December 2020 has received support from its creditors, including: The $400m syndicated bank facilities maturity deferred to January 2023 The $195m Hayfin facility maturity deferred to January 2023 $760m PPL facilities maturity amended to May 2023, with interest payments deferred until March [...]
Borr Drilling Ltd. and refers to an article initially published in the Norwegian newspaper "Dagens Næringsliv" today, which refers to a potential alternative plan discussed by two creditors. The Board and Management are highly confident that the Company can execute the liquidity improvement plan and equity raise as announced in a press release on 24 December 2020. The Company is working closely and constructively with all [...]
Borr Drilling Ltd. is pleased to announce in its fleet status report today that it has entered into a new contract, an extension and received an LOA, adding USD 35.1 million over approximately 480 days to the total backlog, with good prospects for additional backlog on these units. The previously announced LOI for the Norve, which is currently warm stacked, has been converted into a contact for two wells plus one option [...]
Borr Drilling Ltd. advises that a Special General Meeting of the Company was held on January 8, 2021 at 09:30 ADT at 2nd Floor, The S.E. Pearman Building, 9 Par-la-Ville Road, Hamilton HM 11, Bermuda The following resolution was passed:To approve the increase of the Company's authorized share capital from US$11,932,692.30 divided into 238,653,846 common shares of US$0.05 par value each to US$14,500,000.00 divided into [...]
Borr Drilling Ltd. advises that the Company will hold a Special General Meeting on January 8, 2021. The Board of Directors has fixed the close of business on January 4, 2021, as the record date for the determination of the shareholders entitled to attend and vote at the Special General Meeting or any adjournment thereof. A copy of the Notice of Special General Meeting and Form of Proxy and associated information can be [...]
Borr Drilling Ltd. and is pleased to announce the appointment of Mr. Magnus Vaaler as its new Chief Financial Officer, replacing Mr. Christoph Bausch with effect from 28 December 2020. Patrick Schorn, Chief Executive Officer, commented: "I am pleased to announce Magnus as the new Chief Financial Officer of Borr Drilling. Magnus has been with the company since 2018 and has taken increasing responsibility in our finance [...]
As stated in its Q3 report, Borr Drilling has been working actively with its creditors to strengthen the liquidity profile of the Company. With considerable support of all secured creditors a liquidity improvement plan amounting to $925 million over the next two years has been devised. Subject to the Company successfully raising USD40m in new equity, the lenders are supportive of the following outcome, subject to final [...]
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