Borr Drilling Limited
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HAMILTON, Bermuda, Jan. 22, 2021 /PRNewswire/ Reference is made to Borr Drilling Limited s ( the Company ) (NYSE, OSE: BORR ) stock exchange announcements of January 22, 2021, relating to the pricing of the equity offering through the subscription and allocation of a total of 54,117,647 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 0.85 per Offer Share (equivalent to NOK 7.1655 per Offer Share), raising gross proceeds of USD 46 million. The Offer Shares will be listed on Oslo Stock Exchange.
Borr Drilling Limited
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OSLO, Norway, Jan. 19, 2021 /PRNewswire/ Borr Drilling Limited (the Company ) (NYSE and OSE: BORR ) is pleased to confirm that the liquidity improvement plan announced in December 2020 has received support from its creditors, including:
The $400m syndicated bank facilities maturity deferred to January 2023
The $195m Hayfin facility maturity deferred to January 2023
$760m PPL facilities maturity amended to May 2023, with interest payments deferred until March 2023, except $6m payment in 2021 and $12m in 2022 (estimated accumulated interest deferred is in excess of $110m, including the approximately $65m announced in May 2020)
The $272m Keppel newbuild delivery facilities for three delivered rigs all extended by one year (from five to six year financing) and interest deferred to the fourth anniversary of the drawdown of each loan. The Company will make payments to Keppel of $6m in 2021 and $12m in 2022
Borr Drilling Limited (NYSE, OSE: BORR) has announced the appointment of Magnus Vaaler as its new chief financial officer.
Borr Drilling Limited (NYSE, OSE: BORR) has announced the appointment of Magnus Vaaler as its new chief financial officer.
Vaaler, who previously served as the vice president of investor relations and treasury at the company, replaces Christoph Bausch. Vaaler has previously worked as the treasurer and vice president of finance at Frontline Ltd. and as the vice president of finance at Offshore Merchant Partners.
“I am pleased to announce Magnus as the new chief financial officer of Borr Drilling,” Patrick Schorn, the company’s chief executive officer, said in a company statement.
Borr Drilling Limited
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HAMILTON, Bermuda, Dec. 28, 2020 /PRNewswire/ Borr Drilling Limited (the Company ) (NYSE: BORR) and (OSE: BORR) is pleased to announce the appointment of Mr. Magnus Vaaler as its new Chief Financial Officer, replacing Mr. Christoph Bausch with effect from 28 December 2020.
Patrick Schorn, Chief Executive Officer, commented: I am pleased to announce Magnus as the new Chief Financial Officer of Borr Drilling. Magnus has been with the company since 2018 and has taken increasing responsibility in our finance team in the past year. We are confident that this succession plan provides continuity and stability in this period where we are working with key stakeholders to complete our financial restructuring and strengthening our liquidity profile. I also want to thank Christoph for his strong contribution to Borr Drilling during this critical time and wish him well in pursuing his other interests.