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Borr Drilling Limited filings document a foreign private issuer that reports current events on Form 6-K and annual information on Form 20-F. The disclosures cover its shallow-water offshore drilling business, jack-up rig contracts, fleet operating updates, earnings materials, and audited consolidated financial statements.
The filing record also includes shareholder meeting materials, proxy and voting matters, and capital-structure disclosures related to convertible senior notes and existing convertible bonds. These documents describe governance actions, security terms, financing uses, and material operational updates for the company’s worldwide drilling contractor business.
Borr Drilling Limited plans a new debt financing through its subsidiaries Borr IHC Limited and Borr Finance LLC, which intend to offer, subject to market conditions, $1.6 billion in senior secured notes due 2032 and 2034.
The notes will be guaranteed by Borr Drilling and certain subsidiaries and secured by most of its rigs and other assets. The company aims to use the proceeds, with cash on hand, to fully refinance its 10.000% Senior Secured Notes due 2028 and up to $447.3 million original principal of its 10.375% Senior Secured Notes due 2030, and to pay related fees and expenses. Pricing is expected on or about May 28, 2026, with the concurrent tender offer settlement conditioned on successful pricing and settlement of the new notes.
Borr Drilling Limited plans a new debt financing through its subsidiaries Borr IHC Limited and Borr Finance LLC, which intend to offer, subject to market conditions, $1.6 billion in senior secured notes due 2032 and 2034.
The notes will be guaranteed by Borr Drilling and certain subsidiaries and secured by most of its rigs and other assets. The company aims to use the proceeds, with cash on hand, to fully refinance its 10.000% Senior Secured Notes due 2028 and up to $447.3 million original principal of its 10.375% Senior Secured Notes due 2030, and to pay related fees and expenses. Pricing is expected on or about May 28, 2026, with the concurrent tender offer settlement conditioned on successful pricing and settlement of the new notes.
Borr Drilling Limited plans a new debt financing through its subsidiaries Borr IHC Limited and Borr Finance LLC, which intend to offer, subject to market conditions, $1.6 billion in senior secured notes due 2032 and 2034.
The notes will be guaranteed by Borr Drilling and certain subsidiaries and secured by most of its rigs and other assets. The company aims to use the proceeds, with cash on hand, to fully refinance its 10.000% Senior Secured Notes due 2028 and up to $447.3 million original principal of its 10.375% Senior Secured Notes due 2030, and to pay related fees and expenses. Pricing is expected on or about May 28, 2026, with the concurrent tender offer settlement conditioned on successful pricing and settlement of the new notes.
Borr Drilling Limited furnished a Form 6-K stating that it has published a new investor presentation on its website. The presentation is available at www.borrdrilling.com.
The company is an international offshore drilling contractor owning and operating modern, high-specification jack-up rigs focused on the shallow-water segment for the global oil and gas industry.
Borr Drilling Limited furnished a Form 6-K stating that it has published a new investor presentation on its website. The presentation is available at www.borrdrilling.com.
The company is an international offshore drilling contractor owning and operating modern, high-specification jack-up rigs focused on the shallow-water segment for the global oil and gas industry.
Borr Drilling Limited furnished a Form 6-K stating that it has published a new investor presentation on its website. The presentation is available at www.borrdrilling.com.
The company is an international offshore drilling contractor owning and operating modern, high-specification jack-up rigs focused on the shallow-water segment for the global oil and gas industry.
Borr Drilling Limited has launched cash tender offers for its 10.000% senior secured notes due 2028 and 10.375% senior secured notes due 2030. The company is offering to buy any and all of the 2028 notes and up to $447,317,000 original principal of the 2030 notes.
The tenders are funded by a planned new offering of 2032 and 2034 senior secured notes in an aggregate principal amount of at least $1.6 billion, which is a key financing condition. Holders who tender by June 8, 2026 can receive a $50 early tender payment per $1,000 of original principal, including a $2.50 consent fee, with expected early settlement on June 11, 2026. The overall offer expires June 24, 2026.
Borr Drilling Limited has launched cash tender offers for its 10.000% senior secured notes due 2028 and 10.375% senior secured notes due 2030. The company is offering to buy any and all of the 2028 notes and up to $447,317,000 original principal of the 2030 notes.
The tenders are funded by a planned new offering of 2032 and 2034 senior secured notes in an aggregate principal amount of at least $1.6 billion, which is a key financing condition. Holders who tender by June 8, 2026 can receive a $50 early tender payment per $1,000 of original principal, including a $2.50 consent fee, with expected early settlement on June 11, 2026. The overall offer expires June 24, 2026.
Borr Drilling Limited has launched cash tender offers for its 10.000% senior secured notes due 2028 and 10.375% senior secured notes due 2030. The company is offering to buy any and all of the 2028 notes and up to $447,317,000 original principal of the 2030 notes.
The tenders are funded by a planned new offering of 2032 and 2034 senior secured notes in an aggregate principal amount of at least $1.6 billion, which is a key financing condition. Holders who tender by June 8, 2026 can receive a $50 early tender payment per $1,000 of original principal, including a $2.50 consent fee, with expected early settlement on June 11, 2026. The overall offer expires June 24, 2026.
Borr Drilling Limited reported a net loss of $29.0 million for the first quarter of 2026, compared with a $1.0 million loss in the prior quarter, as higher costs and interest expenses offset strong operational performance. Technical utilization reached 99.4% and economic utilization 97.0%. Total operating revenues were $247.0 million, down 5% from Q4 2025, while Adjusted EBITDA declined to $88.5 million from $105.2 million.
During the quarter, Borr completed a $360 million acquisition of five premium jack-up rigs from Noble, expanding its jack-up fleet and increasing jack-up drilling rigs, net, to $3,067.9 million on the balance sheet. It also agreed to acquire five additional jack-up rigs via a 50/50 joint venture with Fontis Finance for $287 million, largely financed through a $237 million non‑recourse seller’s credit and partner cash contributions at closing.
Borr’s liquidity at March 31, 2026 comprised $246.0 million in cash and cash equivalents and $234.0 million of undrawn revolving credit facilities. Debt outstanding totaled $2,360.0 million. In April 2026, Borr issued $300 million of unsecured convertible notes due 2033 and repurchased $195.2 million of its 2028 convertible bonds, extending maturities and lowering interest costs. Contract coverage for 2026 increased to 71% at an average dayrate of about $137,000, with Dayrate Equivalent Backlog of $1.17 billion as of March 31, 2026.
Borr Drilling Limited is moving its Norwegian share listing from Euronext Growth Oslo to the main Euronext Oslo Børs market. Trading on Euronext Oslo Børs will begin on May 21, 2026, and the shares will continue under the ticker “BORR” and ISIN BMG1466R1732.
At the same time, the shares will be deregistered from and cease trading on Euronext Growth Oslo. A prospectus for the listing was approved by the Norwegian Financial Supervisory Authority on May 20, 2026 and is available on the company’s website. Borr Drilling’s primary listing remains on the New York Stock Exchange.
Borr Drilling Limited reports Q1 2026 results with total operating revenues of $247.0 million, down from $259.4 million in Q4 2025. Operating income declined to $46.0 million, and the company posted a net loss of $29.0 million versus a near break-even result previously.
Adjusted EBITDA was $88.5 million with a margin of 35.8%, compared with $105.2 million in Q4 2025, reflecting softer profitability. Cash and cash equivalents fell to $246.0 million, while total liquidity, including revolving credit facility capacity, stood at $480 million, supporting a deleveraging plan with annual debt amortization of $144 million.
The fleet remains one of the youngest in the jack-up market, with 24 active rigs out of 29 modern rigs and Q1 2026 contract coverage of 71% based on Dayrate Equivalent Backlog. Management highlights expectations for an improved market in the second half of 2026 and sees strong prospects into 2027–2028.
Borr Drilling Limited reported unaudited results for the three months ended March 31, 2026, showing higher revenue but a wider net loss as it continues to expand its jack-up rig fleet.
Operating revenues rose to $247.0 million from $216.6 million, mainly driven by higher bareboat charter, dayrate and management contract revenue as more rigs worked across the Middle East and North Africa, the Americas and other regions. However, total operating expenses increased to $201.0 million, reflecting higher rig operating and maintenance costs, including an $8.4 million credit loss provision, added depreciation from five rigs acquired in January 2026, and higher personnel-related general and administrative expenses.
Operating income declined to $46.0 million, net loss widened to $29.0 million, and Adjusted EBITDA fell to $88.5 million from $96.1 million. Net cash from operating activities dropped to $48.1 million, while net cash used in investing activities surged to $182.9 million, largely due to $175.1 million of payments to complete the five-rig acquisition. Total debt stood at $2,360.0 million and cash and restricted cash at $246.9 million as of March 31, 2026. Subsequent to quarter-end, Borr issued $300.0 million of 3.50% Convertible Bonds due 2033 and repurchased $195.2 million of its Convertible Bonds due 2028, and entered a joint venture agreement to acquire five additional jack-up rigs in Mexico for $287.0 million, mostly financed through seller’s credit.
Borr Drilling Limited reported unaudited results for the three months ended March 31, 2026, showing higher revenue but a wider net loss as it continues to expand its jack-up rig fleet.
Operating revenues rose to $247.0 million from $216.6 million, mainly driven by higher bareboat charter, dayrate and management contract revenue as more rigs worked across the Middle East and North Africa, the Americas and other regions. However, total operating expenses increased to $201.0 million, reflecting higher rig operating and maintenance costs, including an $8.4 million credit loss provision, added depreciation from five rigs acquired in January 2026, and higher personnel-related general and administrative expenses.
Operating income declined to $46.0 million, net loss widened to $29.0 million, and Adjusted EBITDA fell to $88.5 million from $96.1 million. Net cash from operating activities dropped to $48.1 million, while net cash used in investing activities surged to $182.9 million, largely due to $175.1 million of payments to complete the five-rig acquisition. Total debt stood at $2,360.0 million and cash and restricted cash at $246.9 million as of March 31, 2026. Subsequent to quarter-end, Borr issued $300.0 million of 3.50% Convertible Bonds due 2033 and repurchased $195.2 million of its Convertible Bonds due 2028, and entered a joint venture agreement to acquire five additional jack-up rigs in Mexico for $287.0 million, mostly financed through seller’s credit.
Borr Drilling Limited reported unaudited results for the three months ended March 31, 2026, showing higher revenue but a wider net loss as it continues to expand its jack-up rig fleet.
Operating revenues rose to $247.0 million from $216.6 million, mainly driven by higher bareboat charter, dayrate and management contract revenue as more rigs worked across the Middle East and North Africa, the Americas and other regions. However, total operating expenses increased to $201.0 million, reflecting higher rig operating and maintenance costs, including an $8.4 million credit loss provision, added depreciation from five rigs acquired in January 2026, and higher personnel-related general and administrative expenses.
Operating income declined to $46.0 million, net loss widened to $29.0 million, and Adjusted EBITDA fell to $88.5 million from $96.1 million. Net cash from operating activities dropped to $48.1 million, while net cash used in investing activities surged to $182.9 million, largely due to $175.1 million of payments to complete the five-rig acquisition. Total debt stood at $2,360.0 million and cash and restricted cash at $246.9 million as of March 31, 2026. Subsequent to quarter-end, Borr issued $300.0 million of 3.50% Convertible Bonds due 2033 and repurchased $195.2 million of its Convertible Bonds due 2028, and entered a joint venture agreement to acquire five additional jack-up rigs in Mexico for $287.0 million, mostly financed through seller’s credit.
Borr Drilling Limited reported the results of its 2026 Annual General Meeting held on May 20, 2026 in Hamilton, Bermuda. Shareholders approved a maximum board size of eight directors and re-elected all nine named directors standing for election, including the chair and current board members.
PricewaterhouseCoopers LLP was re-appointed as independent auditors, with the board authorized to set their pay. Shareholders also approved total board remuneration fees not to exceed US$1,600,000 for the year ending December 31, 2026.
Borr Drilling Limited reported the results of its 2026 Annual General Meeting held on May 20, 2026 in Hamilton, Bermuda. Shareholders approved a maximum board size of eight directors and re-elected all nine named directors standing for election, including the chair and current board members.
PricewaterhouseCoopers LLP was re-appointed as independent auditors, with the board authorized to set their pay. Shareholders also approved total board remuneration fees not to exceed US$1,600,000 for the year ending December 31, 2026.
Borr Drilling Limited reported the results of its 2026 Annual General Meeting held on May 20, 2026 in Hamilton, Bermuda. Shareholders approved a maximum board size of eight directors and re-elected all nine named directors standing for election, including the chair and current board members.
PricewaterhouseCoopers LLP was re-appointed as independent auditors, with the board authorized to set their pay. Shareholders also approved total board remuneration fees not to exceed US$1,600,000 for the year ending December 31, 2026.
Borr Drilling Limited has scheduled the release of its financial results for the first quarter of 2026 after the close of trading on the NYSE on May 20, 2026. These results relate to the company’s offshore drilling operations and overall performance for the period.
The company will host a conference call and webcast to discuss the Q1 2026 results at 09:00 New York time (15:00 CEST) on May 21, 2026. The earnings report, webcast, and presentation will be available through the Investor Relations section of its website, and investors can access the live event or a replay via the provided webcast and registration links.
Borr Drilling Limited has completed its previously announced offering of convertible senior notes due 2033, raising $300 million in aggregate principal amount. This total includes $40 million issued when initial purchasers fully exercised their over-allotment option.
The notes are senior, unsecured obligations maturing on May 1, 2033, bearing interest at 3.50% per annum, payable semi-annually starting November 1, 2026. They are convertible into common shares, cash, or a mix at the company’s election, at an initial conversion rate of 125.0000 common shares per $1,000 principal, equivalent to an initial conversion price of about $8.00 per share. This reflects a conversion premium of over 40% versus the $5.70 closing share price on April 14, 2026.
Borr Drilling plans to use the proceeds to repurchase its existing convertible bonds due 2028 and for general corporate purposes. It has agreed with certain holders to repurchase $195.2 million aggregate principal amount of the 2028 convertible bonds, effectively extending part of its debt maturity profile through the new 2033 notes.