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Borr Drilling has debt agreement approved

Drilling company Borr Drilling has ensured support from its remaining creditors for a deal to postpone debt repayments of USD 1.4bn to Singapore yards.

Photo: PR / Marine Money/Marine Money

Borr Drilling is set to carry out a debt agreement and share issuance after the drilling firm got its last remaining creditors on board with a deal to postpone a billion-dollar debt to two Singapore-based shipbuilders, PPL and Keppel.

In a stock exchange notice, the company writes it has secured approval from its creditors, which include Hayfin and DNB Bank ASA, thereby deferring debt installments to the two yards from 2023 to 2025.

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