Borr Drilling | BORR DRILLING ANNOUNCES USD 800 MILLION EQUITY OFFERING (BORR)
Borr Drilling Limited is an international drilling contractor to the oil and gas industry, with the ambition of acquiring and operating modern drilling assets.
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BORR DRILLING ANNOUNCES USD 800 MILLION EQUITY OFFERING (BORR)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

HAMILTON, BERMUDA, MARCH 20, 2017 – BORR DRILLING LIMITED IS PLEASED TO ANNOUNCE THAT IT IS RAISING USD 800 MILLION IN NEW EQUITY CONSISTING OF 228,600,000 NEW SHARES (THE “NEW SHARES”) AT A PRICE OF USD 3.5 PER SHARE (THE “EQUITY OFFERING”).

THE EQUITY OFFERING HAS INITIALLY TAKEN PLACE THROUGH AN ACCELERATED BOOKBUILDING PROCESS FROM A LIMITED NUMBER OF INVESTORS FOLLOWING THE EXECUTION OF WALL CROSSING AGREEMENTS.

THE BOOK IS NOW COVERED, BUT A SPECIAL TRANCHE OF THE USD800M HAS BEEN RESERVED IN ORDER TO ALLOW FOR NEW AND EXISTING SHAREHOLDERS TO PARTICIPATE. THE BOOK WILL ON THIS BASIS REMAIN OPEN UNTIL 12 AM (EDT) ON MONDAY 20 MARCH 2017.

NOTIFICATION OF ALLOTMENT OF THE NEW SHARES WILL BE SENT TO THE APPLICANTS ON OR ABOUT TUESDAY 21 MARCH 2017.

THE PROCEEDS OF THE EQUITY OFFERING WILL BE USED TO SECURE THE FUNDING OF THE ACQUISITION OF TRANSOCEAN’S JACK-UP FLEET, IN ACCORDANCE WITH THE LOI ANNOUNCED THIS MORNING.

CLARKSONS PLATOU SECURITIES AS, DNB MARKETS AND FEARNLEY SECURITIES AS HAVE BEEN RETAINED AS JOINT LEAD MANAGERS AND BOOKRUNNERS FOR THE EQUITY OFFERING.

http://www.vpff.no/NOTC/NOTC-nyheter