Borr Drilling settles rescue plan with creditors and yards

Rig operator Borr Drilling has reached an agreement with its lenders and yards, which ensures the company's operations until mid-2022. The deal includes postponement of the delivery of five rigs by two years.

Borr Drilling was established in 2016 by Norwegian investor Tor Olav Trøim. | Photo: PR / Marine Money/Marine Money

Strained rig operator Borr Drilling, which is hit hard by the collapse in the oil market, has now settled an agreement with its creditors.

The deal was entered with the secured lenders and several shipyards and means, among other things, that interest payments and rig deliveries are postponed.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs