Borr Drilling Limited (BDRILL)

TekBot · desember 17, 2021, 1:56pm

Flaggemelding i Borr Drilling ASA

TMV · desember 17, 2021, 2:06pm

Norve & Thor kontrakter

TekBot · desember 27, 2021, 10:03am

Borr Drilling Limited announces agreement to defer $1.4 billion of debt maturities and yard instalments to 2025

Hamilton, Bermuda, 27 December 2021: Borr Drilling Limited (the “Company”) (NYSE
and OSE: BORR) is pleased to announce that it has reached agreements in
principle with its largest creditors, the Singaporean yards, to refinance and
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defer a combined $1.4 billion debt maturities and delivery instalments from 2023
to 2025. This is a major step forward in the Company’s previously announced
target to address its debt maturities and commitments currently due in 2023.

In return for these concessions, the Company has agreed to make cash repayments
on the accrued costs and capitalised PIK interest owed to the yards during 2022
and 2023, in addition to what was agreed in the January 2021 amendments. These
additional payments amount to $22.4 million at the completion of the amendment
agreements for the deferral (including $6.5 million of amendment fee), expected
to be in January 2022 and an additional $28.6 million payable later in 2022. It
is also agreed that the payment of the remaining deferred yard costs and
capitalised interest originally due in 2023 will be paid out during 2023 and
2024. In addition, regular payments of cash interest and capital costs for
deferring deliveries will commence in 2023. The agreement in principle also
contemplates applying a portion of future net equity offerings (approximately
35%) to repay amounts owed to the yards, first to be applied to the accrued and
capitalised costs, and secondly to repay principal.

Both agreements are subject to the yards’ board approvals, expected in mid
-January 2022, and the consent from the Company’s other creditors.

The Company expects to seek raising approximately $30 million in new equity to
cover the incremental $22.4 million cash payments due to the shipyards at the
completion of the agreements.

Based on the contracted backlog, expected roll-over of current contracts and
additional contract awards through 2022, Borr Drilling expects to have at least
18 rigs operating mid 2022, generating a significantly higher level of Adjusted
EBITDA compared to the $20 million reported in the third quarter 2021 with 13
rigs operating. The new debt structure with no scheduled debt amortisation to
the yards and reasonable interest cost level until 2025 secures a low cash break
even for the Company.

“Borr Drilling is very appreciative of the support received from its main
creditors. It is a testament to the trust placed in Borr Drilling, and
confidence in the recovery of the market we now see unfolding. With a very large
portion of the debt now being deferred, strong operational performance on our 18
rigs contracted and the expected further improvements in Adjusted EBITDA, we are
positioned to fully benefit from a recovery in the jack-up drilling market. We
believe that the current transaction benefits all stake-holders, creating a long
-term solution with upside for both debt and equity holders” says CEO Patrick
Schorn

This agreement in principle with the yard, if approved, contemplates that Borr
Drilling will refinance maturities of its Senior Secured Credit Facilities and
Hayfin facilities and convertible bonds to mature in 2025 or later and if such
refinancing is not complete by June 2022, the refinancing of maturities and
delivery deferrals will revert to the current schedule. Borr Drilling will
continue to engage with these lenders to find a solution to defer or refinance
the remaining debt maturities currently due in 2023, giving the Company a
complete long-term financing solution.

Hamilton, Bermuda

27 December 2021

Forward looking statements

This announcement includes forward looking statements, which may be identified
by words such as “anticipate”, “believe”, “continue”, “estimate”, “expect”,
“intends”, “may”, “should”, “will”, “likely” and similar expressions and include
statements with respect to the agreement in principle with the yards, including
the expected terms and conditions of such agreement in principle, expected
payments to the yards under such agreement in principle, the expected approval
of such agreement by the boards of directors of the yards, the plan to seek an
equity raise and the intended amount of such raise and expected conditions of
such a raise, expected Adjusted EBITDA in 2022, our expectation that we will be
able to benefit from an expected recovery in the market, the expectation that
this agreement in principle with the yards will create the basis for a long term
solution with upside for debt and equity and other expected benefits of the
agreement in principle with lenders and our plan to seek an agreement with other
creditors and other non-historical statements. The forward-looking statements
in this announcement are subject to risks, uncertainties, contingencies and
other factors could cause actual events to differ materially from the
expectations expressed or implied by the forward-looking statements included
herein, including risks relating to the agreement in principle with the yards,
including the risk that board approvals for the agreements above are not
obtained, the risk that we are unable to obtain necessary consents from other
creditors, raise the required equity or reach final agreement and execute
definitive documentation with the yards for this agreement in principle and
risks relating to the final terms of such agreements, risks relating to meeting
conditions to these agreements, including the payment requirements of these
agreements, the risk that we may not be able to refinance our Senior Secured
Credit and Hayfin facilities and convertible notes required a condition to this
agreement with the yards, risks relating to the contemplated equity raise risks
relating to our liquidity including the risk that we may have insufficient
liquidity to fund our operations, risks relating to business and industry
including industry conditions, the risks that actual results will be lower than
those anticipated, risks relating to cash flows from operations, the risk that
we may be unable to raise necessary funds through issuance of additional debt or
equity or sale of assets and the risk that future equity raises will dilute
existing shareholders, risks relating to our debt instruments including risks
relating to our ability to comply with covenants and obtain any necessary
waivers including risks relating to the covenant waiver under the Senior Secured
Credit facility which extends to the end of March 2022 including risks
associated with obtaining an extension of such waiver and the risk of cross
defaults, risks relating to our ability to meet our debt obligations and
obligations under rig purchase contracts and other risks included in our filings
with the Securities and Exchange Commission including those set forth under
“Risk Factors” in our annual report on Form 20-F for the year ended December 31,
2020 and prospectuses filed with the Norwegian NSA.

This announcement does not constitute an offer to buy, sell or subscribe for any
securities described herein. The equity raise referenced herein has not been and
will not be registered under the Securities Act of 1933 and may not be offered
or sold in the United States absent registration or an applicable exemption from
registration requirements.

Kilde

E24Bot · desember 27, 2021, 10:15am

Tor Olav Trøims Borr Drilling får utsatt betaling av 12,4 milliarder i gjeld

Andyboi · desember 27, 2021, 10:28am

Skulle til å spørre om ikke dette var veldig bull, men markedet måtte bare riste av seg julerusen

KaiRK · desember 27, 2021, 10:29am

Dette går veien!

E24Bot · desember 27, 2021, 10:43am

Tor Olav Trøims Borr Drilling får pusterom - aksjen stiger over seks prosent

TMV · desember 27, 2021, 1:48pm

Fra 13 til 18 aktive rigger og 5 warm stacked som gjerne kommer i aktivitet i løpet av 2022. Q3 så hadde de 13 rigger i aktivitet. Så inntjening fra drift blir vesentlig bedre framover. Siste rate jeg så statistikk på var 82k, men det snakkes jo om at en bør ha 100k framover, så regner med at nye kontrakter vil være på bedre nivå enn 82k, om ikke 100k. Tiden vil vel vise. En utvanning på 270 millioner er vel omtrent 10% av market cap. av 2,3 mrd. Mens de vel har bokførte nettoverdier til rundt 8 mrd. Så her er det en betydelig oppside om markedsforholdene blir gunstige slik som det ser ut til at de blir. Jeg har akkumulert aksjer for egen del den siste tiden, men jeg slapp også 10% i dag. Siden det er emisjonsstørrelsen ish.

E24Bot · desember 27, 2021, 3:49pm

Kjøp Borr-aksjen, om du tror investoren Hayfin gir milde gaver

TekBot · desember 27, 2021, 9:06pm

BORR DRILLING LIMITED - CONTEMPLATED EQUITY OFFERING OF USD 30 MILLION

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, HONG KONG, THE UNITED STATES OR
ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD
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BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO BUY, SELL OR
SUBSCRIBE FOR ANY SECURITIES DESCRIBED HEREIN.

Hamilton, Bermuda, 27 December 2021

Reference is made to Borr Drilling Limited (the “Company”) (NYSE and OSE:
“BORR”) press release of 27 December 2021 relating to the agreement to
refinancing and defer $1.4 billion of debt maturities and yard instalments to
2025. As mentioned in that press release, the Company is contemplating to offer
approximately USD 30 million in new depository receipts (the “Offer Shares”),
representing the beneficial interests in the same number of the Company’s
underlying common shares, each with a par value of USD 0.10 (the “Equity
Offering”). The subscription price in the Equity Offering (the “Subscription
Price”) will be set following an accelerated bookbuilding process.

Certain investors have pre-committed to subscribe for Offer Shares in the Equity
Offering in the amount exceeding USD 30 million.

The net proceeds from the Equity Offering will be used for repayment to yards,
to strengthen the Company’s working capital and for general corporate purposes.

The application period opens today, on 27 December 2021, at 22:00 CET/4:00pm EST
and ends at 08:00 CET/2.00am EST on 28 December 2021. The Company may, in its
own discretion, extend or shorten the application period at any time and for any
reason.

The minimum application and allocation amount in the Equity Offering has been
set at the USD equivalent of EUR 100,000. The Company may, at its sole
discretion, allocate an amount below EUR 100,000 to the extent applicable
exemptions from relevant prospectus and registration requirements are available.

Completion of the Equity Offering is subject to the following conditions: (i)
board approvals by the Singaporean yards for amendments to and refinancing of
the Company’s financing arrangements with the yards as described in the Offering
Materials (the “Yard Refinancing Transactions”); (ii) obtaining such approvals
and waivers as we deem necessary and appropriate from the Company’s other
creditors, including Hayfin and DNB Bank ASA and the other lenders in the Senior
Secured Facilities to enter into the amendment agreements with the yards; (iii)
the Board approving the transaction; (iv) the Board resolving to consummate the
Equity Offering and allocate the Offer Shares. Each applicant acknowledges that
the Equity Offering may be cancelled if the conditions are not fulfilled. The
Company and the Managers further reserve the right, at any time and for any
reason, to cancel and/or modify the terms of the Equity Offering. Neither the
Managers nor the Company will be liable for any losses if the Equity Offering is
cancelled, or the terms modified, irrespective of the reason for such
cancellation or modification.

Allocation of the Offer Shares will be determined at the end of the application
period, and final allocation will be made by the Board at its sole discretion,
with preference for existing shareholders. Notification of the allocation is
expected to be sent by the Managers on or about 28 December 2021

Settlement of the Equity Offering is expected mid-January 2022, subject to
fulfillment of the conditions described above.

The Offer Shares, representing the beneficial interests in the same number of
common shares in the Company, will only be listed on the Oslo Stock Exchange
upon issuance. No Offer Shares will be offered or sold to the public in the
United States or in transactions on the NYSE. The Equity Offering will be
carried out as a private placement and the Board is of the opinion that this is
in the best interest of the Company and its shareholders. The Board has taken
into consideration, among other things, the fact that the Equity Offering will
provide necessary liquidity and raise capital more quickly and, at an attractive
price, compared to a rights issue.

The Equity Offering is directed towards investors subject to applicable
exemptions from relevant prospectus requirements, (i) outside the United States
to non-US persons in reliance on Regulation S under the US Securities Act of
1933 (the “US Securities Act”) and (ii) in the United States to “qualified
institutional buyers” (“QIBs”) as defined in Rule 144A under the US Securities
Act in transactions that are exempt for registration under the US Securities
Act.

Clarksons Platou Securities AS, Sparebank 1 Markets AS, DNB Markets, a part of
DNB Bank ASA and Fearnley Securities AS have been retained as Joint Lead
Managers and Bookrunners (together referred to as the “Managers”) to the Equity
Offering.

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Important note

This announcement is not being made in or into the United States of America,
Canada, Australia, Japan, Hong Kong or in any other jurisdiction where it would
be prohibited by applicable law. This distribution does not constitute or form
part of an offer or solicitation of an offer to purchase or subscribe for
securities in the United States. The shares referred to herein have not been
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold in the United States, except pursuant to an applicable
exemption from registration under that Act.

Forward looking statements

This announcement includes forward looking statements, including statements with
respect to the contemplated equity raise, the conditions to the equity raise,
use of proceeds and other non-historical statements. These forward-looking
statements are subject to risks and uncertainties, including risks relating to
the contemplated equity raise and whether the conditions to the equity raise
will be met and other risks included in our filings with the Securities and
Exchange Commission including those set forth under “Risk Factors” in our annual
report on Form 20-F for the year ended December 31, 2020 and in prospectuses
filed with the Norwegian Financial Supervisory Authority (FSA).

Kilde

TekBot · desember 28, 2021, 7:34am

Borr Drilling Limited - Completion and Pricing of Equity Offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG, THE UNITED STATES OR ANY
OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
…

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UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO BUY, SELL OR
SUBSCRIBE FOR ANY SECURITIES DESCRIBED HEREIN.

Hamilton, Bermuda, 28 December 2021

Reference is made to Borr Drilling Limited’s (“Borr Drilling” or the “Company”)
(NYSE and OSE: “BORR”) stock exchange release on 27 December 2021, the
contemplated equity offering USD 30 million in new depository receipts.

Borr Drilling is pleased to announce that the board of directors of the Company
(the “Board”) has approved the subscription and allocation of a total of
13,333,333 new depository receipts (the “Offer Shares”), representing the
beneficial interests in the same number of the Company’s underlying common
shares, each at a subscription price of USD 2.25 per Offer Share (equivalent to
NOK 19.97 per Offer Share), raising gross proceeds of USD 30,000,000 million.
The equity offering was significantly oversubscribed.

Completion of the Equity Offering is subject to the following conditions: (i)
board approvals by the Singaporean yards for amendments to and refinancing of
the Company’s financing arrangements with the yards as described in the Offering
Materials (the “Yard Refinancing Transactions”); (ii) obtaining such approvals
and waivers as we deem necessary and appropriate from the Company’s other
creditors, including Hayfin and DNB Bank ASA and the other lenders in the Senior
Secured Facilities to enter into the amendment agreements with the yards; (iii)
the Board approving the transaction; (iv) the Board resolving to consummate the
Equity Offering and allocate the Offer Shares.

Following issuance of the Offer Shares, the Company’s outstanding and issued
share capital will increase by USD 1,333,333.30 to USD 15,055,150.80, divided
into 150,551,508 shares, each with a nominal value of USD 0.10 per share.

Allocation letters is expected to be distributed today. The date for settlement
of the Offer Shares is expected to be on or about 14 January 2022, subject to
satisfaction of the conditions referred to above. The Offer Shares will be
listed on the Oslo Stock Exchange (“OSE”) upon delivery. No Offer Shares will be
offered or sold in transactions on the NYSE.

Clarksons Platou Securities AS, Sparebank 1 Markets AS, DNB Markets, a part of
DNB Bank ASA and Fearnley Securities AS have been retained as Joint Lead
Managers and Bookrunners (together referred to as the “Managers”) to the Equity
Offering.

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Important note

This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities of the Company. The
distribution of this announcement and other information may be restricted by law
in certain jurisdictions. Copies of this announcement are not being made and may
not be distributed or sent into any jurisdiction in which such distribution
would be unlawful or would require registration or other measures. Persons into
whose possession this announcement or such other information should come are
required to inform themselves about and to observe any such restrictions.

The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the “Securities
Act”), and accordingly may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act and in accordance with applicable U.S. state securities laws.
The Company does not intend to register any part of the offering or their
securities in the United States or to conduct a public offering of securities in
the United States. Any sale in the United States of the securities mentioned in
this announcement will be made solely to “qualified institutional buyers” as
defined in Rule 144A under the Securities Act.

In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
Prospectus Regulation, i.e., only to investors who can receive the offer without
an approved prospectus in such EEA Member State. The expression “Prospectus
Regulation” means Regulation 2017/1129 as amended together with any applicable
implementing measures in any Member State.

This communication is only being distributed to and is only directed at persons
in the United Kingdom that are (i) investment professionals falling within
Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005, as amended (the “Order”) or (ii) high net worth entities,
and other persons to whom this announcement may lawfully be communicated,
falling within Article 49(2)(a) to (d) of the Order (all such persons together
being referred to as “relevant persons”). This communication must not be acted
on or relied on by persons who are not relevant persons. Any investment or
investment activity to which this communication relates is available only for
relevant persons and will be engaged in only with relevant persons. Persons
distributing this communication must satisfy themselves that it is lawful to do
so.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as “believe”, “expect”, “anticipate”,
“strategy”, “intends”, “estimate”, “will”, “may”, “continue”, “should” and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believes that these assumptions were
reasonable when made, these assumptions are inherently subject to significant
known and unknown risks, uncertainties, contingencies and other important
factors which are difficult or impossible to predict and are beyond its control.

Actual events may differ significantly from any anticipated development due to a
number of factors, including without limitation, changes in investment levels
and need for the Company’s services, changes in the general economic, political
and market conditions in the markets in which the Company operate, the Company’s
ability to attract, retain and motivate qualified personnel, changes in the
Company’s ability to engage in commercially acceptable acquisitions and
strategic investments, and changes in laws and regulation and the potential
impact of legal proceedings and actions. Such risks, uncertainties,
contingencies and other important factors could cause actual events to differ
materially from the expectations expressed or implied in this release by such
forward-looking statements. The Company does not provide any guarantees that the
assumptions underlying the forward-looking statements in this announcement are
free from errors nor does it accept any responsibility for the future accuracy
of the opinions expressed in this announcement or any obligation to update or
revise the statements in this announcement to reflect subsequent events. You
should not place undue reliance on the forward-looking statements in this
document.

The information, opinions and forward-looking statements contained in this
announcement speak only as at its date, and are subject to change without
notice. The Company does not undertake any obligation to review, update,
confirm, or to release publicly any revisions to any forward-looking statements
to reflect events that occur or circumstances that arise in relation to the
content of this announcement.

Neither of the Managers nor any of their respective affiliates makes any
representation as to the accuracy or completeness of this announcement and none
of them accepts any responsibility for the contents of this announcement or any
matters referred to herein.

This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities in the Company. Neither the
Managers nor any of their respective affiliates accepts any liability arising
from the use of this announcement.

Forward looking statements

This press release includes forward looking statements, which do not reflect
historical facts and may be identified by words such as “may”, “expect”, “may”,
“will” and similar expressions and include statements relating to the
contemplated Equity Offering, conditions relating to completion of the Equity
Offering and expected timing of closing of the Equity Offering. Such forward
-looking statements are subject to risks, uncertainties, contingencies and other
factors could cause actual events to differ materially from the expectations
expressed or implied by the forward-looking statements included herein,
including risks related to meeting the conditions for and completing the Equity
Offering, the outcome of the agreement with lenders, risks relating to our
liquidity and expected additional run-way and ultimate outcome of planned
discussions with yard, including whether we will have sufficient liquidity to
meet our requirements and other factors described in the section entitled “Risk
Factors” in our filings with the Securities and Exchange Commission. Such risks,
uncertainties, contingencies and other factors could cause actual events to
differ materially from the expectations expressed or implied by the forward
-looking statements included herein. These forward-looking statements are made
only as of the date of this release. We do not undertake to update or revise the
forward-looking statements, whether as a result of new information, future
events or otherwise.

Kilde

TekBot · desember 28, 2021, 8:24am

Borr Drilling Limited - Mandatory notification of trades

Reference is made to Borr Drilling Limited’s (“Borr Drilling”) (NYSE, OSE:
“BORR”) stock exchange announcements of December 28, 2021, relating to the
pricing of the equity offering through the subscription and allocation of a
…

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total of 13,333,333 in new depository receipts (the “Offer Shares”),
representing the beneficial interests in the same number of the Company’s
underlying common shares, each at a subscription price of USD 2.25 per Offer
Share (equivalent to NOK 19.97 per Offer Share), raising gross proceeds of
USD 30 million. The Offer Shares will be listed on Oslo Stock Exchange.

The following persons discharging managerial responsibilities (“PDMRs”) in Borr
Drilling have subscribed for and been conditionally allocated the following
Offer Shares at the Subscription Price:

Companies affiliated with Director and Vice Chairman Tor Olav Trøim: 1,333,333
Offer Shares. After delivery, Trøim and his affiliated parties will represent an
ownership in Borr Drilling of 10,124,934 shares in the Company.

Patrick Schorn, Chief Executive Officer of Borr Drilling: 200,000 Offer Shares.
After delivery, Mr. Schorn will own 1,000,000 shares in the Company.

Magnus Vaaler, Chief Financial Officer of Borr Drilling: 10,000 Offer Shares.
After delivery, Mr. Vaaler will own 65,000 shares in the Company.

December 28, 2021

Hamilton, Bermuda

This information is subject to disclosure requirements pursuant to Sections 4-2
and 5-12 of the Norwegian Securities Trading Act and article 19 of the
Regulation EU 596/2014 (Market Abuse Regulation).

Kilde

TMV · desember 28, 2021, 8:46am

Tok litt gevinst før årsslutt, er litt høyere skatt neste år. Så får vi se om der kommer noe flere shorteraid i denne framover sånn at jeg får kjøpt litt trading aksjer i tillegg til long posten som jeg fortsatt holder på. Spennende tider for Borr framover.

TekBot · desember 28, 2021, 10:07am

Granular capital - large share holding disclosure 27.12.21 - BORR Drilling Ltd - ISIN BMG1466R1732)

TMV · desember 28, 2021, 10:47am

Hedgefond med 20%, Kan fort bli nye PGS, BORR nå framover hva volatilitet angår. Ypperlig aksje å trade i, trur eg. (Og langt tryggere enn PGS)

TekBot · januar 14, 2022, 7:00am

Borr Drilling Limited - Update on equity issuance settlement

Hamilton, Bermuda, 14 January 2022

Reference is made to Borr Drilling Limited’s (the “Company”) (NYSE and OSE:
…

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“BORR”) announcement 28 December 2021 about the subscription and allocation of a
total of 13,333,333 new depository receipts (the “Offer Shares”), raising gross
proceeds of USD 30 million.

As stated in the announcement, a condition for completion of the Equity Offering
is board approvals by the Singaporean yards for amendments to and refinancing of
the Company’s financing arrangements with the yards. The Company is expecting
the board decisions of the Singaporean yards in the week of 24 January 2022 due
to their current scheduling of board meetings. Therefore, the date of settlement
of the Offer Shares is adjusted to be on or about 28 January 2022, subject to
satisfaction of the other closing conditions referred to in the announcement 28
December 2021. The Offer Shares will be listed on the Oslo Stock Exchange
(“OSE”) upon delivery. No Offer Shares will be offered or sold in transactions
on the NYSE.

Forward looking statements

This press release includes forward looking statements, which do not reflect
historical facts and may be identified by words such as “expect”, “will” and
similar expressions and include statements relating to the contemplated Equity
Offering, conditions relating to completion of the Equity Offering and expected
timing of closing of the Equity Offering. Such forward-looking statements are
subject to risks, uncertainties, contingencies and other factors could cause
actual events to differ materially from the expectations expressed or implied by
the forward-looking statements included herein, including risks related to
meeting the conditions for and completing the Equity Offering, the outcome of
the agreement with lenders, and ultimate outcome of planned discussions with
yard and other factors described in the section entitled “Risk Factors” in our
filings with the Securities and Exchange Commission. Such risks, uncertainties,
contingencies and other factors could cause actual events to differ materially
from the expectations expressed or implied by the forward-looking statements
included herein. These forward-looking statements are made only as of the date
of this release. We do not undertake to update or revise the forward-looking
statements, whether as a result of new information, future events or otherwise.

Kilde

TMV · januar 14, 2022, 8:09am

Litt rart at de ikke hadde kontroll på datoene når de la opp emisjonen…

TekBot · januar 26, 2022, 1:34pm

Borr Drilling Limited - Receives creditor consent for extension of yard debt maturities and deliveries

Hamilton, Bermuda, 26 January 2022

Reference is made to Borr Drilling Limited’s (the “Company”) (NYSE and OSE:
…

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“BORR”) announcement 28 December 2021 relating to the subscription and
allocation of a total of 13,333,333 new depository receipts (the “Offer
Shares”), raising gross proceeds of USD 30 million (the “Equity Offering”).

A condition for completion of the Equity Offering was obtaining such approvals
and waivers deemed necessary and appropriate from the Company’s other creditors,
including Hayfin and DNB Bank ASA and the other lenders in the Senior Secured
Facilities (the “Facilities”) to enter into the amendment agreements with the
yards for deferral of debt maturities and delivery instalments from 2023 to
2025. The Company is pleased to announce that it has today received consents
from these creditors to enter into the agreements with the shipyards as per the
terms agreed in December 2021.

The Company has agreed to enter into negotiations with the lenders of the
Facilities and certain holders of the 3.875% Senior Unsecured Convertible Bonds
due 2023 (the “Convertible Bonds”) and use its best efforts to reach a binding
refinancing of the Facilities and the Convertible Bonds by 31 March 2022 and
complete such refinancing by 30 June 2022.

The Company has also agreed with the lenders of the Facilities an amendment to
one of its financial covenants such that its book value to equity ratio
requirement will remain 25% until 30 June 2022.

“We are pleased to have reached agreements with the creditors in the Facilities
for the implementation of the deferral agreements with the yards. This is an
important step in order to find a long-term financing solution for Borr
Drilling” says CEO Patrick Schorn in a comment.

The date of settlement of the Offer Shares is expected to be on or about 28
January 2022, subject to satisfaction of the other closing conditions referred
to in the announcement made 28 December 2021. The Offer Shares will be listed on
the Oslo Stock Exchange (“OSE”) upon delivery. No Offer Shares will be offered
or sold in transactions on the NYSE.

Forward looking statements

This press release includes forward looking statements, which do not reflect
historical facts and may be identified by words such as “expect”, “will” and
similar expressions and include statements relating to the consents obtained
from creditors including the conditions to such consents, and statements
relating to the Equity Offering, conditions relating to completion of the
offering and expected timing of closing of the offering. Such forward-looking
statements are subject to risks, uncertainties, contingencies and other factors
could cause actual events to differ materially from the expectations expressed
or implied by the forward-looking statements included herein, including risks
related to meeting the conditions for and completing the Equity Offering, risks
relating to the consents obtained and meeting the conditions for such consents,
the outcome of the discussions with creditors, and whether agreements will be
reached by the dates mentioned herein or at all and the terms of any such
agreements and other factors described in the section entitled “Risk Factors” in
our filings with the Securities and Exchange Commission. Such risks,
uncertainties, contingencies and other factors could cause actual events to
differ materially from the expectations expressed or implied by the forward
-looking statements included herein. These forward-looking statements are made
only as of the date of this release. We do not undertake to update or revise the
forward-looking statements, whether as a result of new information, future
events or otherwise.

This announcement does not constitute an offer to buy, sell or subscribe for any
securities described herein. The Equity Offering has not been and will not be
registered under the Securities Act of 1933 and the Offer Shares may not be
offered or sold in the United States absent registration or an applicable
exemption from registration requirements.

Kilde

TekBot · januar 28, 2022, 2:15pm

Borr Drilling Limited - Conditions for equity raise completed

Hamilton, Bermuda, 28 January 2022

Reference is made to Borr Drilling Limited’s (the “Company”) (NYSE and OSE:
…

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“BORR”) announcement 28 December 2021 relating to the subscription and
allocation of a total of 13,333,333 new depository receipts (the “Offer
Shares”), at a price of $2.25, raising gross proceeds of $30 million (the
“Equity Offering”) related to refinancing and deferring a combined $1.4 billion
debt maturities and delivery instalments from 2023 to 2025 with its shipyards.

The Company has today met all the remaining conditions listed in its
announcement on 28 December 2021 for the Equity Offering. The settlement of the
Offer Shares is expected to be completed on 31 January 2022. The Offer Shares
will be listed on the Oslo Stock Exchange (“OSE”) upon delivery. No Offer Shares
will be offered or sold in transactions on the NYSE.

Forward looking statements

This press release includes forward looking statements, which do not reflect
historical facts and may be identified by words such as “expect”, “will” and
similar expressions and include statements relating to the consents obtained
from creditors including the conditions to such consents, and statements
relating to the Equity Offering, conditions relating to completion of the
offering and expected timing of closing of the offering. Such forward-looking
statements are subject to risks, uncertainties, contingencies and other factors
could cause actual events to differ materially from the expectations expressed
or implied by the forward-looking statements included herein, including risks
related to meeting the conditions for and completing the Equity Offering, risks
relating to the consents obtained and meeting the conditions for such consents,
the outcome of the discussions with creditors, and whether agreements will be
reached by the dates mentioned herein or at all and the terms of any such
agreements and other factors described in the section entitled “Risk Factors” in
our filings with the Securities and Exchange Commission. Such risks,
uncertainties, contingencies and other factors could cause actual events to
differ materially from the expectations expressed or implied by the forward
-looking statements included herein. These forward-looking statements are made
only as of the date of this release. We do not undertake to update or revise the
forward-looking statements, whether as a result of new information, future
events or otherwise.

This announcement does not constitute an offer to buy, sell or subscribe for any
securities described herein. The Equity Offering has not been and will not be
registered under the Securities Act of 1933 and the Offer Shares may not be
offered or sold in the United States absent registration or an applicable
exemption from registration requirements.

Kilde

TekBot · januar 31, 2022, 12:45pm

Borr Drilling Limited - Increase in share capital

Reference is made to Borr Drilling Limited’s (the “Company”) (NYSE and OSE:
“BORR”) stock exchange releases related to the equity offering of 13,333,333 new
depository receipts to be listed on the Oslo Stock Exchange (the "Offer
…

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Shares"), representing the beneficial interests in the same number of the
Company’s underlying common shares, each at a subscription price at USD 2.25 per
Offer Share.

The Offer Shares were settled today, on Monday 31 January 2022, and the
Company’s issued share capital has been increased by USD 1,333,333.30 to USD
15,055,150.80, divided into 150,551,508 common shares, each with a nominal value
of USD 0.10 per share.

The common shares referred to herein have not been registered under the United
States Securities Act of 1933 and may not be offered or sold in the United
States, except pursuant to an applicable exemption from registration.

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Hamilton, Bermuda, 31 January 2022

Kilde