Financial Wire

Borr Drilling Prices Oversubscribed Offering of $260 Million Convertible Senior Notes

-- Borr Drilling (BORR.OL) priced a $260 million offering of 3.50% convertible senior notes due May 1, 2033, according to a Wednesday statement.

The drilling contractor plans to use the proceeds to repurchase $195.2 million of its 2028 convertible bonds for $224.5 million, including accrued interest. Remaining proceeds will be used for general corporate expenditures.

The drilling contractor also granted an overallotment option for up to $40 million. Completion of the offering is expected by Friday, subject to closing conditions.

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