Borr Drilling Limited - Completes Acquisition of Five Rigs Through New Joint Venture
Borr Drilling's joint venture BC Ventures completed the acquisition of five premium jack-up rigs from Fontis Finance for a total of $287 million. The transaction was primarily financed by a $237 million seller's credit maturing in 2029, with Borr contributing only $25 million in cash.
Key figures
- Deal Value Usd
- 287000000
- Fleet total
- 34
- Seller credit
- 237000000
- Cash contribution borr
- 25000000
AI analysis
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