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Borr Drilling Limited - Announces Increase in Tender Amount for Notes Due 2030
Borr Drilling Limited (NYSE: BORR) (OSE: BORR) ("Borr Drilling" or the "Company") today announced that its wholly owned subsidiary, Borr IHC Limited (the "Issuer"), has increased the principal amount of the Issuer's outstanding 10.375% Senior Secured Notes due 2030 (the "2030 Notes") that it can repurchase under its previously announced cash tender offer (the "Tender Offer") from $447.3 million of original principal amount to any and all of the 2030 Notes, on the terms and subject to the conditi
About this update from Borr Drilling Limited
[{"type":"text","content":"HAMILTON, Bermuda, May 28, 2026 /PRNewswire/ -- Borr Drilling Limited (NYSE: BORR) (OSE: BORR) ("Borr Drilling" or the "Company") today announced that its wholly owned subsidiary, Borr IHC Limited (the "Issuer"), has increased the principal amount of the Issuer's outstanding 10.375% Senior Secured Notes due 2030 (the "2030 Notes") that it can repurchase under its previously announced cash tender offer (the "Tender Offer") from $447.3 million of original principal amount to any and all of the 2030 Notes, on the terms and subject to the conditions set forth in the Issuer's Offer to Purchase and Consent Solicitation Statement dated May 26, 2026 (the "Statement"). As of the date hereof, $877.1 million in original aggregate principal amount of 2030 Notes (amounting to $770.7 million in aggregate principal amount after adjusting for amortization payments) is outstanding.","length":945,"tagName":"p"},{"type":"text","content":"Consistent with amending the Tender Offer to be in respect of any and all 2030 Notes, the Issuer has amended the Financing Condition of the Tender Offer to provide that the Issuer's obligation to accept for purchase, and to pay for, 2030 Notes validly tendered and not validly withdrawn is subject to the satisfaction or waiver of certain conditions, including, among other things, the completion of the New Notes Offering in aggregate principal amount equal to at least $2,035 million, on terms satisfactory to the Issuer in its sole discretion. The complete terms and conditions of the Tender Offer are set forth in the Statement.","length":636,"tagName":"p"},{"type":"text","content":"The Tender Offer is being made solely by means of the Statement. Under no circumstances shall this press release constitute an offer to purchase or sell or the solicitation of an offer to purchase or sell the 2030 Notes or any other securities of the Issuer or any other person, nor shall there be any offer or sale of any 2030 Notes or other securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. In addition, nothing contained herein constitutes a notice of redemption of the 2030 Notes. No recommendation is made as to whether holders ...