ShippingWatch

Borr Drilling reaches "agreements in principle" with shipyards to defer billion-dollar debt

Borr Drilling announces an agreement made with its largest creditors in the form of Singapore shipyards to postpone debt payments totaling USD 1.4 billion. The deal is dependent on separate agreements with other creditors, among other things.

Photo: PR / Marine Money/Marine Money

Borr Drilling has "reached agreements in principle with its largest creditors" in the form of Singapore-based shipbuilders – PPL and Keppel, according to Dagens Næringsliv – to refinance and defer debt payments totaling USD 1.4 billion by two years.

A statement issued by the debt-ridden drilling firm on Monday reveals that the payments due in 2023 will be postponed until 2025 under the agreement.

Read the whole article

Get 14 days free access.

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

Bawat targets Stockholm listing to raise fresh capital

With an IPO in Stockholm, ballast water system supplier Bawat aims to secure capital for the company’s continued development. The listing comes just six months after the company’s latest cash injection. ShippingWatch has spoken to CEO Marcus Hummer.

Further reading

Related articles

Latest news

See all jobs