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Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Debt

Long-term debt is comprised of the following:

			As of December 31,
(In $ millions)			2021			2020
Hayfin Loan Facility			197.0			195.0
Syndicated Senior Secured Credit Facilities			272.7			270.0
New Bridge Facility			30.3			30.0
$350 million Convertible bonds			350.0			350.0
PPL Delivery Financing			753.3			753.3
Keppel Delivery Financing			259.2			259.2
Principal outstanding			1,862.5			1,857.5
Back end fees due to PPL and Keppel on Delivery of rigs			42.8			42.8
Effective interest rate adjustments on PPL and Keppel delivery Financing			17.1			13.4
Deferred finance charges(1)			(6.5)			(7.5)
Carrying value			1,915.9			1,906.2

Carrying amounts in the table above include, where applicable, deferred financing fees and certain interest adjustments to allow for variations in interest payments to be straight lined.

(1) For the year ended December 31, 2021, deferred finance charges includes the capitalization of extension fees associated with amendments made to the Hayfin Term Loan Facility, the Syndicated Senior Secured Credit Facilities and the New Bridge Facility, in January 2021, offset by amortization recognized during the year.

Schedule of Maturities of Long-term Debt

The scheduled maturities as of December 31, 2021 of our principal debt are as follows:

(In $ millions)			December 31, 2021
2022			—
2023			1,603.3
2024			—
2025			86.4
2026			172.8
Thereafter			—
Total			1,862.5

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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- Definition

Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123465755&loc=d3e1835-112601

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