The company reached a 94.11% aggregate acceptance rate for its tender offer, with 95.95% of 2028 noteholders and 91.21% of 2030 noteholders opting to participate. Following this threshold, Borr IHC Limited issued a redemption notice for all remaining outstanding notes that were not tendered. This process reached its conclusion on June 29, 2026, when the issuer officially redeemed the remaining debt.
This transition was facilitated by the company’s June 10, 2026, offering of $1.1 billion in 8.750% senior secured notes due 2032 and $935 million in 9.000% senior secured notes due 2034. With the redemption process now complete, the company has effectively replaced its older debt instruments, finalizing a major overhaul of its balance sheet.
Comments (0)
No comments yet. Be the first!