<SEC-DOCUMENT>0001140361-22-024706.txt : 20220701
<SEC-HEADER>0001140361-22-024706.hdr.sgml : 20220701
<ACCEPTANCE-DATETIME>20220701075126
ACCESSION NUMBER:		0001140361-22-024706
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20220630
FILED AS OF DATE:		20220701
DATE AS OF CHANGE:		20220701

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Borr Drilling Ltd
		CENTRAL INDEX KEY:			0001715497
		STANDARD INDUSTRIAL CLASSIFICATION:	DRILLING OIL & GAS WELLS [1381]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39007
		FILM NUMBER:		221059643

	BUSINESS ADDRESS:	
		STREET 1:		THISTLE HOUSE
		STREET 2:		4 BURNABY STREET
		CITY:			HAMILTON HM 11
		STATE:			D0
		ZIP:			0000
		BUSINESS PHONE:		4722483000

	MAIL ADDRESS:	
		STREET 1:		THISTLE HOUSE
		STREET 2:		4 BURNABY STREET
		CITY:			HAMILTON HM 11
		STATE:			D0
		ZIP:			0000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>brhc10039320_6k.htm
<DESCRIPTION>6-K
<TEXT>
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      <div>
        <div style="text-align: center; font-size: 14pt; font-weight: bold;"> UNITED STATES<br>
        </div>
        <div style="text-align: center; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
        <div style="text-align: center; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
        <div>&#160;</div>
        <div>
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        <div> <br>
        </div>
        <div style="text-align: center; font-weight: bold; font-size: 18pt;">FORM 6-K</div>
        <div>
          <div>&#160;</div>
          <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
        <br>
        <div style="text-align: center; font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER</div>
        <div style="text-align: center; font-weight: bold;">PURSUANT TO RULE 13a-16 OR 15d-16</div>
        <div style="text-align: center; font-weight: bold;">OF THE SECURITIES EXCHANGE ACT OF 1934</div>
        <div>&#160;</div>
        <div style="text-align: center; font-weight: bold;">
          <div style="font-family: 'Times New Roman',Times,serif;">June 30, 2022</div>
        </div>
        <div>&#160;</div>
        <div style="text-align: center; font-weight: bold;">Commission File Number 001-39007</div>
        <div>&#160;</div>
        <div>
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        <br>
        <div style="text-align: center; font-size: 24pt; font-weight: bold;">Borr Drilling Limited</div>
        <div>&#160;</div>
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
        <div style="text-align: center; font-weight: bold;">
          <div>S. E. Pearman Building</div>
        </div>
        <div style="text-align: center; font-weight: bold;">2nd Floor 9 Par-la-Ville Road</div>
        <div style="text-align: center; font-weight: bold;">Hamilton HM11</div>
        <div style="text-align: center; font-weight: bold;">Bermuda</div>
        <div style="text-align: center; font-weight: bold;">(Address of principal executive office)</div>
        <br>
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        <div> <br>
        </div>
        <font style="font-style: normal;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form&#160;20-F or Form&#160;40-F:</font>
        <div style="font-style: normal;">&#160;</div>
        <div style="text-align: center; font-style: normal;">Form&#160;20-F &#9746; Form&#160;40-F &#9744;</div>
        <div style="text-align: center; font-style: normal;">&#160;</div>
        <div style="font-style: normal;">Indicate by check mark if the registrant is submitting the Form&#160;6-K on paper as permitted by Regulation S-T Rule&#160;101(b)(1): &#9744;</div>
        <div style="text-indent: 24pt; font-style: normal;">&#160;</div>
        <div style="font-style: normal;">Indicate by check mark if the registrant is submitting the Form&#160;6-K on paper as permitted by Regulation S-T Rule&#160;101(b)(7): &#9744;</div>
        <div><br>
        </div>
        <div>
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        </div>
        <div><u>Exhibits</u></div>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zd9a038fa277e417db72308be9123370d">

            <tr>
              <td style="width: 5%; vertical-align: top;">
                <div><a href="brhc10039320_ex99-1.htm">99.1</a></div>
              </td>
              <td style="width: 95%; vertical-align: top;">
                <div>Press Release</div>
              </td>
            </tr>

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        <div>&#160;</div>
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        <div style="text-align: center; font-weight: bold;">&#160;SIGNATURES</div>
        <div>&#160;</div>
        <div>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</div>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z26f02742fbfb436287826562c53e58c5">

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                <div>&#160;</div>
              </td>
              <td style="vertical-align: top;" colspan="2">
                <div style="font-weight: bold;">BORR DRILLING LIMITED</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: middle;">&#160;</td>
              <td style="width: 5%; vertical-align: middle;">&#160;</td>
              <td style="width: 45%; vertical-align: middle;">&#160;</td>
            </tr>
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              <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">
                <div>Date: June 30, 2022</div>
              </td>
              <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
                <div>By:</div>
              </td>
              <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div>/s/ Mi Hong Yoon</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">
                <div>&#160;</div>
              </td>
              <td style="width: 5%; vertical-align: top;">
                <div>Name:</div>
              </td>
              <td style="width: 45%; vertical-align: top;">
                <div>
                  <div>Mi Hong Yoon</div>
                </div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">
                <div>&#160;</div>
              </td>
              <td style="width: 5%; vertical-align: top;">
                <div>Title:</div>
              </td>
              <td style="width: 45%; vertical-align: top;">
                <div>Director</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <br>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>brhc10039320_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <div style="font-weight: bold; text-align: right;">Exhibit 99.1<br>
      </div>
    <div style="font-weight: bold; text-align: right;"> <br>
      </div>
    <div style="font-weight: bold; text-align: right;">
      <div style="text-align: left; font-weight: bold;">Borr Drilling Limited &#8211; Update on Refinance</div>
      <div>&#160;</div>
      <div style="text-align: left; font-weight: normal;">Hamilton, Bermuda 30 June 2022: Borr Drilling Limited (the &#8220;Company&#8221;) (NYSE and OSE: BORR) refers to its previous communication regarding
        its ongoing negotiations with creditors to reach mutual agreements to refinance and extend its 2023 maturities and complete such refinancing by 30 June 2022.</div>
      <div style="font-weight: normal;">&#160;</div>
      <div style="text-align: left; font-weight: normal;">Significant progress has been made in the negotiations with the target to put in place the right capital structure for the company going
        forward. A complete solution will require a further equity injection combined with debt repayments, extensions and concessions by the creditors resulting in a robust capital structure that supports a low cash break even and thereby a higher free
        cash generation.</div>
      <div style="font-weight: normal;">&#160;</div>
      <div style="text-align: left; font-weight: normal;">In order to have the required time to conclude full lock-up and commitments from all creditors, the necessary covenant waivers have been
        extended until 15 July 2022 by the lenders in the bank syndicate. Thus far specific proposals have been received from all creditor groups, some of which have already resulted in agreements in principle. In particular, we have agreed terms in
        principle for the refinancing of the senior secured bank facility in July 2022 to be funded with a mix of a new credit facility and equity/an asset sale.</div>
      <div style="font-weight: normal;">&#160;</div>
      <div style="text-align: left; font-weight: normal;">We will continue to work with all remaining creditors to arrive at an optimized overall financing solution, targeted to be in place by 15
        July 2022.</div>
      <div style="font-weight: normal;">&#160;</div>
      <div style="text-align: left; font-weight: normal;">This press release does not constitute an offer of any securities for sale.</div>
      <div>&#160;</div>
      <div style="text-align: left; font-weight: bold;">Forward looking statements</div>
      <div>&#160;</div>
      <div style="text-align: left; font-weight: normal;">This press release includes forward looking statements, which do not reflect historical facts and may be identified by words such as
        &#8220;expect&#8221;, &#8220;will&#8221; and similar expressions and include statements relating to negotiations with creditors and targets of such negotiations, capital structure, proposals from creditor groups, agreements in principle, discussions with creditors and
        target for arriving at a financial solution, and other non-historical statements. Such forward-looking statements are subject to risks, uncertainties, contingencies and other factors could cause actual events to differ materially from the
        expectations expressed or implied by the forward-looking statements included herein, including risks relating to discussions with creditors including the risk that a refinancing is not agreed risks relating to the terms of such refinancing if
        agreed, risks relating to covenants in debt facilities and liquidity and the risk that Borr may not be able to refinance its debt maturities beyond 2023 and other risks and uncertainties described in the section entitled &#8220;Risk Factors&#8221; in our most
        recent annual report on Form 20-F and other filings with the Securities and Exchange Commission. Such risks, uncertainties, contingencies and other factors could cause actual events to differ materially from the expectations expressed or implied by
        the forward-looking statements included herein. These forward-looking statements are made only as of the date of this release. We do not undertake to update or revise the forward-looking statements, whether as a result of new information, future
        events or otherwise.</div>
      <div>&#160;</div>
      <div><br>
      </div>
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