Brief: Borr Drilling Says Progressing To Extend Runway

Borr Drilling

24/12/2020 17:46

Dec 24 (Reuters) - Borr Drilling Ltd  BDRILL.OL :
    * BORR DRILLING - PROGRESSING TO EXTEND RUNWAY
    * BORR DRILLING -WITH CONSIDERABLE SUPPORT OF SECURED
CREDITORS A
LIQUIDITY IMPROVEMENT PLAN AMOUNTING TO $925 MILLION OVER NEXT
TWO YEARS HAS BEEN DEVISED
    * CO WILL NOW NEGOTIATE DEFINITIVE DOCUMENTATION WITH A VIEW
TO
CLOSING SAME AND RAISING NEW EQUITY BY 31 JANUARY 2021
    * HAS RECEIVED STRONG INDICATIONS FROM ITS MAIN SHAREHOLDERS
SUPPORTING PROPOSED EQUITY ISSUE BASED ON THIS LIQUIDITY
IMPROVEMENT

Source text for Eikon:  ID:nWkr1kXcmr 
Further company coverage:  BDRILL.OL 

 ((Reuters.Briefs@thomsonreuters.com;))