Borr Drilling secures capital for creditors through share emission

With a share issuance of USD 30m, debt-ridden drilling firm Borr Drilling has raised fresh capital for covering payments to major creditors. Norwegian investor and Borr Drilling co-owner Tor Olav Trøim has bought a portion of the shares.

Photo: PR / Marine Money/Marine Money

Financially strained offshore company Borr Drilling has carried out a share emission on the Oslo Stock Exchange to raise a total of USD 30m, the company writes in a statement.

According to the statement, 1.3 million of the new shares were bought by companies controlled by Norwegian investor Tor Olav Trøim, co-owner and vice chair of Borr Drilling.

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