0001140361-22-037142.txt : 20221014 0001140361-22-037142.hdr.sgml : 20221014 20221013193420 ACCESSION NUMBER: 0001140361-22-037142 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20221013 FILED AS OF DATE: 20221014 DATE AS OF CHANGE: 20221013 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: 221309994 BUSINESS ADDRESS: STREET 1: S.E. PEARMAN BUILDING STREET 2: 2ND FLOOR 9 PAR-LA-VILLE ROAD CITY: HAMILTON STATE: D0 ZIP: HM11 BUSINESS PHONE: 4722483000 MAIL ADDRESS: STREET 1: S.E. PEARMAN BUILDING STREET 2: 2ND FLOOR 9 PAR-LA-VILLE ROAD CITY: HAMILTON STATE: D0 ZIP: HM11 6-K 1 brhc10042926_6k.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
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)


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 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


EX-99.1 2 brhc10042926_ex99-1.htm EXHIBIT 99.1
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.