BORR - Borr Drilling announces deal to sell jack-up drilling rig 'Gyme' for $120M

• Borr Drilling ( NYSE: BORR ) has entered into an agreement to sell the jack-up drilling rig "Gyme" for a price of $120M to an unrelated third party.
• The sale of the rig is an undertaking by the Company under its most recent refinancing with PPL Shipyard which was completed early October 2022.
• The proceeds from the sale will be applied to all outstanding amounts owed on the rig, and excess amounts will be applied to the capitalised interest for the eight other rigs financed by PPL.
• The transaction is expected to close in the Q4 2022.

For further details see: