HAMILTON, Bermuda, June 29, 2026 /PRNewswire/ -- Borr Drilling Limited (NYSE: BORR) (OSE: BORR) ("Borr Drilling" or the "Company") today announced the final tender results of the previously announced offer by Borr IHC Limited (the "Issuer"), the Company's wholly-owned subsidiary, to purchase for cash (the "Tender Offer") (i) any and all of its outstanding 10.000% Senior Secured Notes due 2028 (the "2028 Notes") and (ii) any and all of its outstanding 10.375% Senior Secured Notes Due 2030 (the "2030 Notes" and, together with the 2028 Notes, the "Notes"), and the related solicitation of consents (the "Consent Solicitation") from Holders to vote in favor of certain proposed amendments (the "Proposed Amendments") to the indenture dated November 7, 2023 (as amended or supplemented from time to time, the "Existing Indenture"), in each case pursuant to the terms and subject to the conditions set forth in the offer to purchase and consent solicitation statement dated May 26, 2026 (as amended or supplemented from time to time, the "Statement"). Capitalized terms used but not otherwise defined in this release have the meaning given in the Statement.
Final Tender Results
The following table sets forth certain information regarding the Notes and the Tender Offer, including the aggregate principal amount of Notes that were validly tendered and not validly withdrawn in the Tender Offer according to Global Bondholder Services Corporation, the Tender Agent and Information Agent for the Tender Offer:
Notes | CUSIP / ISIN | Original Principal | Outstanding | Aggregate Original Principal | Factor | Tender Offer |
(2) | (3) | |||||
10.000% Senior Secured | Rule 144A: 100018 AA8 / US100018AA89Regulation | $1,380,696,000.00 | $1,128,129,659.88 | $1,324,802,000 | 0.81707317 | $998.36 |
10.375% Senior Secured |
| $877,094,000.00 | $770,650,554.20 | $799,984,000 | 0.87864078 | $1,010.00 |
As of May 22, 2026. For the 2030 Notes, this reflects the initial aggregate original principal amount of 2030 Notes adjusted to reflect amortization in respect thereof. For the 2028 Notes, this reflects the initial aggregate original principal amount of 2028 Notes adjusted to reflect amortization in respect thereof.
The factor is a number that represents a fraction (expressed as a decimal rounded to 8 decimal digits) the numerator of which represents the unpaid principal amount of such series of securities as of May 22, 2026 and the denominator of which represents the initial principal amount outstanding of such series of securities (the "Factor"). The Tender Offer Consideration set forth in the table above is multiplied by the applicable Factor, which reflects the partial amortization of the Notes.
For each $1,000 original principal amount of Notes validly tendered and accepted for purchase and with respect to which the applicable Holder has provided its Consent, as applicable. This excludes Accrued Interest.