0001140361-20-003507.txt : 20200218 0001140361-20-003507.hdr.sgml : 20200218 20200218133443 ACCESSION NUMBER: 0001140361-20-003507 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20200217 FILED AS OF DATE: 20200218 DATE AS OF CHANGE: 20200218 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Borr Drilling Ltd CENTRAL INDEX KEY: 0001715497 STANDARD INDUSTRIAL CLASSIFICATION: DRILLING OIL & GAS WELLS [1381] IRS NUMBER: 000000000 STATE OF INCORPORATION: D0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39007 FILM NUMBER: 20624530 BUSINESS ADDRESS: STREET 1: THISTLE HOUSE STREET 2: 4 BURNABY STREET CITY: HAMILTON HM 11 STATE: D0 ZIP: 0000 BUSINESS PHONE: 4722483000 MAIL ADDRESS: STREET 1: THISTLE HOUSE STREET 2: 4 BURNABY STREET CITY: HAMILTON HM 11 STATE: D0 ZIP: 0000 6-K 1 form6k.htm 6-K
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.

Exhibit
  
Description
     
 
Press release dated February 17, 2020

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:
February 17, 2020
By:
/s/ Svend Anton Maier
     
Svend Anton Maier
     
Chief Executive Officer


EX-99.1 2 ex99_1.htm EXHIBIT 99.1
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