Borr Drilling Ltd 6-K, filed Feb 18, 2020
Borr Drilling Ltd (BORR)
6-K
2020-02-18
For: 2020-02-17
View Original
Added on
April 10, 2026
About this 6-K
Borr Drilling Ltd filed this 6-K on February 18, 2020.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of February 2020
Borr Drilling Limited
S. E. Pearman Building
2nd Floor 9 Par-la-Ville Road
Hamilton HM11
Bermuda
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Financial Statements and Exhibits.
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Exhibit
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Description
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Press release dated February 17, 2020
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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BORR DRILLING LIMITED
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Date:
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February 17, 2020
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By:
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/s/ Svend Anton Maier
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Svend Anton Maier
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Chief Executive Officer
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Exhibit 99.1
Borr Drilling Limited enters into new financing arrangement for a newbuild jack-up drilling rig
Borr Drilling Limited (the “Company”) is pleased to announce that the Company has entered into a new financing arrangement for the newbuild jack-up rig Tivar, scheduled
to be delivered from the yard in July 2020. The existing US$50 million bank delivery financing for the rig will be replaced with a new US$100 million take out facility maturing in December 31, 2021. As part of the agreement the delivery of the jack
up rigs Vale and Var are conditional upon full repayment of the facility or can be carried out 180 days after an early repayment of the financing.
The Company’s total remaining newbuild capex is, as of today, US$707 million, of which US$620 million is now fully financed, and the new arrangement has reduced the
unfunded delivery capex for 2020 by US$85 million.
The US$100 million in financing and delivery date amendments will, together with the adjustments in the bank agreements achieved in December 2019, substantially improve
the company’s liquidity position in 2020 and 2021.
February 17, 2020
Hamilton, Bermuda
Board of Directors
Borr Drilling Limited
Questions should be directed to:
Magnus Vaaler: VP Investor Relations and Treasury, +44 7708899316