Two rig companies negotiate with lenders after missing interest payments

Coronavirus and March's oil price collapse continue to strain rig companies. Both Valaris and Noble drilling have missed interest payment deadlines this week and are currently negotiating with lenders to land a restructuring.

Photo: Steve Nesius/Reuters/Ritzau Scanpix

Two rig companies have missed their deadline on interest payments for part of their debt and are now negotiating with lenders to find a solution.

One of the companies is Valaris, which owns a large fleet of drilling rigs as well as so-called jack-up and semi-submersible rigs.

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