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Borr Drilling Ltd (BORR) delivers modern offshore drilling solutions through its fleet of high-specification jack-up rigs. This news hub provides investors and industry professionals with timely updates on operational milestones, contract awards, and strategic developments shaping the company’s position in the global energy sector.
Access consolidated coverage of earnings reports, rig deployments, and safety achievements. Our repository ensures you stay informed about BORR’s progress in securing long-term drilling commitments and managing its premium asset portfolio across key offshore regions.
Discover updates on fleet expansions, partnership agreements, and operational efficiency initiatives. All content is curated to help stakeholders track the company’s performance in competitive markets while maintaining compliance with industry regulations.
Bookmark this page for streamlined access to Borr Drilling’s latest press releases and market-moving announcements. Check regularly for authoritative reporting on operational excellence in challenging offshore environments.
Borr Drilling Limited (NYSE: BORR) has made significant progress in negotiations with creditors to refinance and extend its 2023 maturities. The goal is to establish a robust capital structure that supports low cash break-even points and enhances free cash generation. Lenders have extended covenant waivers until July 15, 2022, to provide time for closure on agreements. Terms in principle have been reached for refinancing the senior secured bank facility, which will be funded through new credit and equity or asset sales. A comprehensive financial solution is targeted for July 15, 2022.
Borr Drilling Limited (NYSE: BORR) has filed its 2021 Annual Report on Form 20-F for the year ending December 31, 2021. The report is accessible on the SEC's website since April 11, 2022, and can also be downloaded from the Company's website. Hard copies of the report can be requested via email or mail. This filing meets the disclosure requirements outlined in the Norwegian Securities Trading Act.
Borr Drilling Limited (NYSE: BORR) announced the retirement of Georgina Sousa as Director and Company Secretary, effective March 2, 2022, after serving since February 2019. The Board expressed gratitude for her contributions to the company, particularly in the Shipping and Offshore industry. Mi Hong Yoon has been appointed to the Board as her successor in the Company Secretary role, effective March 1, 2022. Yoon brings significant experience as a former Chief Legal, Regulatory and Compliance Officer at Digicel Bermuda and has held senior legal positions at Telstra Corporation Limited.
Borr Drilling Limited (NYSE: BORR) will announce its fourth quarter 2021 financial results on February 16, 2022. A conference call and webcast are scheduled for 14:00 CET (9:00 AM New York Time). The report and presentation will be accessible from the Investor Relations section on the company's website. Participants can join via webcast or telephone. A Q&A session will follow the presentation, and a replay will be available until March 9, 2022.
Borr Drilling Limited (NYSE: BORR) announced the successful completion of conditions for its recent equity offering of 13,333,333 new depository receipts at $2.25 per share, raising $30 million. This funding will aid in refinancing $1.4 billion in debt maturities and delivery installments, pushing deadlines from 2023 to 2025. The settlement is set for January 31, 2022, with shares listed on the Oslo Stock Exchange. The press release contains forward-looking statements, highlighting potential risks and uncertainties surrounding the offering.
Borr Drilling Limited announced on Jan. 26, 2022 that it has received consent from creditors including Hayfin and DNB Bank to amend agreements for deferring debt maturities and delivery installments from 2023 to 2025. The company raised USD 30 million through a recent equity offering of 13,333,333 new depository receipts. Borr Drilling plans to negotiate refinancing for the Facilities and 3.875% Convertible Bonds due 2023 by March 31, 2022, with completion targeted for June 30, 2022.
Borr Drilling Limited (NYSE: BORR) has secured preliminary agreements with its main creditors to refinance and defer $1.4 billion in debt maturities and delivery instalments to 2025. In exchange, the company will make cash repayments totaling $51 million in 2022-2023. This restructuring aims to mitigate financial pressures, enabling 18 operational rigs to enhance Adjusted EBITDA beyond $20 million reported in Q3 2021. Board approvals from the creditors are pending, with an expected new equity raise of $30 million to cover immediate repayments.
Borr Drilling Limited will present its third quarter 2021 results via a webcast/conference call on November 5, 2021, at 14:00 CET (9:00 AM New York time). Participants can access the presentation through a dedicated link or dial in with specific conference ID details. A Q&A session will follow the presentation, offering participants an opportunity to engage directly. The presentation materials, including a PDF of the Q3 results, are available for download. For additional information, visit the company’s press release on Cision.
Borr Drilling Limited (NYSE: BORR) announced an investor presentation on July 7, 2021, highlighting key updates and future plans. The management will host a conference call and webcast at 15:00 CET (9:00 AM New York Time) on the same day. Participants can join via a provided link or call in using specific numbers. A Q&A session will follow the presentation. A replay of the event will be accessible until August 4, 2021, via the company's website. The investor presentation is also available for download.
Borr Drilling Limited (NYSE: BORR) announced an 'at-the-market program' that allows for the sale of up to $40 million in common shares through Clarksons Platou Securities, Inc. The sales can occur at market prices on the New York Stock Exchange. While the Board does not plan to sell shares immediately, this program provides future flexibility. Proceeds will be used for general corporate purposes, potentially including debt payments and capital expenditures. The offering is described in the registration statement on Form F-3 and complies with relevant securities laws.
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