Borr Drilling Ltd 6-K, filed Oct 14, 2022
Borr Drilling Ltd (BORR)
6-K
2022-10-14
For: 2022-10-13
View Original
Added on
April 10, 2026
About this 6-K
Borr Drilling Ltd filed this 6-K on October 14, 2022.
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
OF THE SECURITIES EXCHANGE ACT OF 1934
October 13, 2022
Commission File Number 001-39007
Borr Drilling Limited
S. E. Pearman Building
2nd Floor 9 Par-la-Ville Road
Hamilton HM11
Bermuda
(Address of principal executive office)
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Exhibits
|
Press Release
|
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.
|
|
BORR DRILLING LIMITED
|
|
|
Date: October 13, 2022
|
By:
|
/s/ Mi Hong Yoon
|
|
|
Name:
|
Mi Hong Yoon
|
|
|
Title:
|
Director
|
Exhibit 99.1
Borr Drilling Limited Announces Sale of the Jack-up Drilling Rig “Gyme”
13 October 2022, Hamilton, Bermuda: Borr Drilling Limited (NYSE and OSE: BORR) (the “Company”) is pleased to announce that it has entered into an agreement to sell the jack-up drilling rig “Gyme” for a price of $120 million to an unrelated third
party. The “Gyme” is a 2018 PPL Pacific Class 400 located in Singapore and has not been activated or contracted since its delivery.
The sale of the rig is an undertaking by the Company under its most recent refinancing with PPL Shipyard which was completed early October 2022. The proceeds from the sale will be applied to all outstanding amounts owed on the rig, and excess
amounts will be applied to the capitalised interest for the eight other rigs financed by PPL. The transaction is expected to close in the fourth quarter 2022.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements with respect to the terms of the agreement with an unrelated third party for a rig sale, the
intended use of proceeds, the expected closing date of the transaction, and other non-historical statements and may be identified by words such as "expect", "will" and similar expressions. The forward-looking statements included in this press
release are subject to significant risks, uncertainties, contingencies and factors that may cause the Company’s actual results to be materially different from those expressed or implied by the forward-looking statements including risks related to
the terms of the sale of the rig “Gyme”, risk that the sale of such rigs is not consummated on the intended terms or at all, and other risks described in the Company’s most recent Annual Report on Form 20-F and other filings of the Company with the
SEC. The forward-looking statements made in this press release speak only as of the date of this press release. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result
of new information, future events or otherwise, after the date hereof or to reflect the occurrence of unanticipated events.