Tor Olav Troim’s Borr Drilling has tapped the capital markets for $800m to fund the purchase of the Transocean jack-up fleet.
Borr worked with Fearnley Securities, Clarksons Platou Securities and DNB Markets on the fundraiser to see through the transaction.
Completion of the swoop for 15 Transocean rigs for $1.35bn marks Borr’s second acquisition and its most significant play to date.
The deal, which is expected to close in May this year, is for 10 trading rigs and five newbuildings, as TradeWinds’s sister publication Upstream reported a couple of weeks ago.
Greg
