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That is a lot of outstanding receivables!
UPDATE REGARDING PAYMENT OF RECEIVABLES FROM BORR DRILLING
Borr Drilling announced on 23 October 2023 that it has launched a USD1.5 billion senior secured notes offering. Borr Drilling further announced on 24 October 2023 that it has raised an equivalent of USD50 million in a private placement. The proceeds from the notes and equity offerings are intended to be used to repay all of its outstanding secured borrowings, including the shipyard delivery financing arrangements with PPLS.
The Company wishes to update that PPLS has received a prepayment notice on 6 November 2023 for its receivables amounting to approximately SGD968 million from Borr Drilling. The funds are expected to be received on 8 November 2023.
https://links.sgx.com/FileOpen/SGX%20Ann...eID=777178
UPDATE REGARDING PAYMENT OF RECEIVABLES FROM BORR DRILLING
Borr Drilling announced on 23 October 2023 that it has launched a USD1.5 billion senior secured notes offering. Borr Drilling further announced on 24 October 2023 that it has raised an equivalent of USD50 million in a private placement. The proceeds from the notes and equity offerings are intended to be used to repay all of its outstanding secured borrowings, including the shipyard delivery financing arrangements with PPLS.
The Company wishes to update that PPLS has received a prepayment notice on 6 November 2023 for its receivables amounting to approximately SGD968 million from Borr Drilling. The funds are expected to be received on 8 November 2023.
https://links.sgx.com/FileOpen/SGX%20Ann...eID=777178
I am not a certified financial advisor and so nothing of what I say should be construed as financial advice. Please consult a certified financial advisor for advice instead.