NYSE:BORREnergy Services
Borr Drilling (BORR) Is Down 5.6% After 2033 Convertible Notes Deal And Contract Coverage Update - Has The Bull Case Changed?
Borr Drilling Limited recently completed a US$260 million Rule 144A offering of 3.5% senior unsecured convertible notes due May 1, 2033, alongside operational updates showing multiple jack-up rigs in the Middle East and Gulf of America resuming or preparing to resume work and a new six‑month campaign award in Southeast Asia.
These bond refinancing plans and higher 2026 contract coverage at an average dayrate of about US$134,000 suggest a tighter alignment between Borr Drilling’s balance...