Brief: Borr Drilling Announces Agreement To Defer $1.4 Bln Of Debt Maturities And Yard Instalments To 2025

Borr Drilling

27/12/2021 10:18

Dec 27 (Reuters) - Borr Drilling Ltd  BORR.OL :
    * BORR DRILLING LIMITED ANNOUNCES AGREEMENT TO DEFER $1.4
BILLION
OF DEBT MATURITIES AND YARD INSTALMENTS TO 2025
    * BOTH AGREEMENTS ARE SUBJECT TO YARDS' BOARD APPROVALS,
EXPECTED
IN MID-JANUARY 2022, AND CONSENT FROM COMPANY'S OTHER CREDITORS.
    * COMPANY EXPECTS TO SEEK RAISING APPROXIMATELY $30 MILLION
IN NEW
EQUITY TO COVER INCREMENTAL $22.4 MILLION CASH PAYMENTS DUE TO
SHIPYARDS AT COMPLETION OF AGREEMENTS

Source text for Eikon:  ID:nWkr1PtF02 
Further company coverage:  BORR.OL 

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