FINWIRES · TerminalLIVE
FINWIRES

Borr Drilling Plans $1.6 Billion Senior Secured Notes Offering

By

Borr Drilling's (BORR.OL) Borr IHC unit and its Borr Finance subsidiary are planning to launch an offer for a total of $1.60 billion of senior secured notes due 2032 and 2034, subject to market conditions.

The drilling contractor will use the proceeds to repurchase, redeem, or refinance all its outstanding 10% senior secured notes due 2028, and up to $447.3 million of outstanding 10.375% senior secured notes due 2030, according to a Tuesday release.

Pricing of the notes offering is expected by Thursday.

Related Articles

Equities

BP's Sale of Gelsenkirchen Refinery to Klesch Group Approved by European Commission

BP's (BP) proposed sale of its refinery and related businesses in Gelsenkirchen, Germany, to Klesch Group has been approved by the European Commission, the regulator said Tuesday.The oil and gas major announced the proposed sale in March, and said at the time that it expected the deal to increase its structural cost reduction target by around $1 billion to a range of $6.5 billion to $7.5 billion by 2027.The Commission said it believes the deal would not raise competition concerns due to the companies' "limited combined market position resulting from the proposed transaction and the companies' limited market positions."Shares of BP were down 4.5% in early trading Tuesday.

$BP
Equities

PBF Energy Plans $500 Million Senior Notes Offering Due 2034

PBF Energy's (PBF) subsidiary PBF Holding plans to offer $500 million of senior notes due 2034 in a private placement, the company said Tuesday.The company said the proceeds, together with cash on hand, will be used to fully redeem its 6.00% senior notes due 2028.

$PBF
Equities

Intesa Sanpaolo Boosts BP PT, Maintains Neutral Rating

Intesa Sanpaolo on Tuesday increased the price target for British oil and gas company BP (BP.L) to 5.98 pounds sterling from 4.63 pounds, while keeping its neutral rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$BP.L