SUBSCRIBE
PROFILE

Borr Drilling raises $102.5mn through issuance of 50 million ordinary shares

Offshore drilling company Borr Drilling Limited announced the completion of an initial tranche issuance of 30 million ordinary shares out of the planned 50 million, raising $61.5mn towards the total goal of $102.5mn.

Share:

Subscribe for unlimited access to all the latest energy sector news.

Over 150 multisector articles and analyses every week.

For less than €3/week*

*For an annual commitment

*Engagement annuel à seulement 99 € (au lieu de 149 €), offre valable jusqu'au 30/07/2025 minuit.

SUBSCRIBE

Offshore drilling company Borr Drilling Limited, based in Bermuda, has confirmed the closing of the first tranche of a public issuance of ordinary shares aimed at raising a total of $102.5mn. This operation involves a total issuance of 50 million ordinary shares priced at $2.05 each.

First tranche of the operation completed

The first tranche of the operation consists of 30 million ordinary shares, corresponding to gross proceeds of $61.5mn. The second tranche, consisting of the remaining 20 million shares, is expected to be completed on August 7, 2025. However, this completion remains conditional upon the prior approval by Borr Drilling shareholders of an increase in the company’s authorised share capital.

This approval will be discussed at a special general meeting scheduled for August 6, 2025. Should the shareholders validate the proposal, the company will proceed with the final closing of this public issuance. The overall objective is therefore to strengthen its equity position within a context of increased financing needs.

Allocation and use of funds raised

According to information provided by Borr Drilling, funds raised will primarily finance general corporate purposes. These include servicing existing debt, covering capital expenditures, as well as funding the company’s working capital requirements.

Banks DNB Carnegie, Clarksons Securities, Citigroup and Goldman Sachs & Co. LLC are jointly acting as bookrunners on this financial operation. Their mandate notably covers the organisation and placement of shares on the concerned international financial markets.

Immediate effects on capital structure

Following this first phase of issuance, the share capital of Borr Drilling Limited increased by $3mn to reach a total amount of $26,622,486.60. The capital now consists of 266,224,866 ordinary shares, each with a nominal value of $0.10.

This issuance represents a significant step for the company’s financial strategy, enabling it notably to meet short-term commitments while ensuring adequate financial flexibility in the medium term. This operation takes place amid a global context of increasing demand for offshore drilling services.

  • Popular on energynews.pro
Sinopec Shanghai Posts Half-Year Loss Amid Declining Petrochemical Demand
Ukrainian Arrested in Italy for Alleged Role in Nord Stream Sabotage
Moretti expected to chair Petrobras board with ministerial backing
The U.S. Department of Energy Extends Operations of a Coal Plant in the Midwest
Investments in Green Hydrogen Expected to Reach USD 510 Billion by 2032
LPSC approves 3 new power plants to support Meta’s data center
The Louisiana regulatory commission authorizes Entergy to launch major energy projects tied to Meta’s upcoming data center, with anticipated impacts across the regional power grid.
Westbridge Reduces Common Shares by Four to Attract Institutional Investors
Westbridge Renewable Energy will implement a share consolidation on August 22, reducing the number of outstanding shares by four to optimize its financial market strategy.
T1 Energy strengthens its U.S. solar strategy and reaffirms 2025 targets
T1 Energy secures a wafer supply contract, signs 437 MW in sales, and advances G2_Austin industrial deployment while maintaining EBITDA guidance despite second-quarter losses.
Masdar mobilizes USD 1.685 billion for energy projects through green bonds
Masdar has allocated the entirety of its 2023–2024 green bond issuances to solar, wind, and storage energy projects, while expanding its financial framework to include green hydrogen and batteries.
Energiekontor issues a €15 million green bond for its European projects
Energiekontor launches a €15 million corporate bond at 5.5% over eight years, intended to finance wind and solar projects in Germany, the United Kingdom, France, and Portugal.
United States: 2024 Capex and M&A Strengthen Producers’ Energy Advantage
The 2025 EY study on 40 groups shows capex driven by mega-deals, oil reserves at 34.7 billion bbl, gas at 182 Tcf, and pre-tax profits declining amid moderate prices.
Ampol’s Half-Year Profit Drops 23% but Exceeds Market Expectations
Australian fuel distributor Ampol reports a 23% drop in net profit, impacted by weak refining margins and operational disruptions, while surpassing market forecasts.
Puerto Rico faces a sharp rise in power outages in 2024
Puerto Rico customers experienced an average of 73 hours of power outages in 2024, a figure strongly influenced by hurricanes, according to the U.S. Energy Information Administration.
CITGO posts $100 million net profit in second quarter 2025
CITGO returns to profitability in Q2 2025, supported by maximum utilization of its refining assets and adjusted capital expenditure management.
MARA invests $168mn to acquire 64% stake in EDF’s subsidiary Exaion
MARA strengthens its presence in digital infrastructure by acquiring a majority stake in Exaion, a French provider of secure high-performance cloud services backed by EDF Pulse Ventures.
ACEN reaches 2,100 MW of attributable renewable capacity in India
ACEN strengthens its international strategy with over 2,100 MWdc of attributable renewable capacity in India, marking a major step in its expansion beyond the Philippines.
RWE posts €2.1bn adjusted EBITDA in H1 2025 despite adverse wind conditions
German group RWE maintains its annual targets after achieving half its earnings-per-share forecast, despite declining revenues in offshore wind and trading.
OT Cyberattacks: Energy Sector Faces $329 Billion in Risks
A Dragos report reveals the scale of cyber vulnerabilities in global energy infrastructures. Potential losses reach historic highs.
New Fortress Energy delays release of quarterly results due to debt negotiations
The US liquefied natural gas producer is extending its filing deadlines with the regulator, citing ongoing talks over additional credit support.
NRN raises $67.2m to accelerate its distributed energy platform in Australia
Australian company NRN has closed a $67.2m funding round, combining equity and debt, to develop its distributed energy infrastructure platform and expand its decentralised storage and generation network.
Tesla applies to supply electricity to British households
The American manufacturer is seeking a licence from the UK energy regulator to distribute electricity in the United Kingdom, marking its first move into this sector outside Texas.
Diversified Energy posts 79% revenue increase in first half of 2025
The US oil and gas producer increased production and cash flow, driven by the Maverick integration and a $2 billion strategic partnership with Carlyle.
Boralex reports a decline in EBITDA in Q2 despite increased production
Boralex saw its earnings before interest, taxes, depreciation and amortization fall by 13% in the second quarter of 2025, despite a 14% increase in production, due to less favourable prices in France and lower revenues from joint ventures.
CES Energy Solutions posts record revenue in Q2 2025
The Canadian supplier of chemical solutions for the oil industry generated CAD574 mn ($419.9 mn) in revenue in the second quarter, up 4% year-on-year, and announced a quarterly dividend.
EnBW maintains 2025 guidance despite 7% drop in EBITDA
EnBW posted adjusted EBITDA of €2.4 billion in the first half of 2025, supported by its diversified operations, and confirmed its annual targets despite unfavourable weather conditions.
Consent Preferences