PRNewsWire
28 May 2026, 02:53 UTC · 1h ago
Source · https://www.prnewswire.com/news-releases/borr-drilling-limited--announces-pricing-and-upsize-of-2-035-billion-of-senior-secured-notes-due-2032-and-2034--302783867.html
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Borr Drilling has priced and upsized an offering of $2.035 billion in senior secured notes due 2032 and 2034. — The upsize suggests strong investor demand for the company's debt, indicating confidence in its creditworthiness.
+0.40The company will use the proceeds to fully refinance $1.128 billion of notes due 2028 and $770.7 million of notes due 2030. — Replacing higher-coupon debt (10.000% and 10.375%) with lower-coupon notes (8.750% and 9.000%) reduces interest expense and extends the maturity profile.
+0.30Ticker attribution
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The company successfully priced and upsized a multi-billion dollar note offering to refinance higher-interest debt.
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