ABG Sundal Collier acted as joint lead manager and bookrunner in connection with the USD 650m private placement in Borr Drilling Limited

Deal announcement

Today, Borr Drilling Limitied announced that the company has successfully completed a private placement, raising gross proceeds of up to USD 650m by issue of 162,500,000 new shares representing 51.5 percent of the outstanding shares of the Company. The subscription price will be USD 4.00 per share. The equity offering will be used to partly secure the financing for the acquisition of the jack-up rigs from PPL and for general corporate purposes.
 
 

About Borr Drilling

Borr Drilling is an international drilling contractor that owns and operates jack-up rigs of modern and high-specification designs providing drilling services to the oil and gas exploration and production industry worldwide in water depths up to approximately 400 feet. Borr Drilling`s strategy is to build a substantial fleet of jack-up rigs and establish itself as the preferred provider of drilling services in hydrocarbon basins around the world. The company currently operates a fleet of 12 jack-up drilling rigs.