EnergyWatch

Borr Drilling raises millions after securing approval for rescue plan

Rig operator Borr Drilling, which recently secured support for a rescue plan, raises USD 46 million through a share issue that represents a key condition for the rescue plan.

Photo: PR / Marine Money/Marine Money

Strained rig operator Borr Drilling now moves on to the next stage of its much-awaited rescue plan, which earlier this week found support from the company's creditors.

The rig operator, founded by Tor Olav Trøim, has now raised USD 46 million in fresh capital through a share issue, which was more than the USD 40 million the company aimed for as a condition for the rescue plan.

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