Borr Drilling continues to consolidate the market for premium jack-up rigs with the acquisition of nine premium rigs from PPL for USD 1.3bn.
We are highly impressed with the speed and execution that the Borr team has built the company into a world leading drilling contractor.
We are also proud to have supported the team as Joint Lead Manager and Joint Bookrunner for Borr Drilling in the private placement of USD 650m through the issuance of 162.5m new shares at USD 4.0 per share.
This is DNB Markets third private placement for Borr Drilling over the last ten months, raising gross proceeds of USD 1.6bn. In addition, DNB Markets acted as sole financial advisor to Borr Drilling on its Oslo Børs listing in August 2017.