BORR - Diamond Offshore Drilling - Prepare For Bankruptcy After Company Skips Interest Payment And Retains Advisors
Note:
I have previously covered Diamond Offshore Drilling (DO), so investors should view this as an update to my earlier articles on the company.
On Thursday morning, leading offshore driller Diamond Offshore Drilling ("Diamond Offshore") shocked investors with its decision to not make the semiannual interest payment under its 5.7% 2039 notes. In addition, the company disclosed having retained restructuring advisors.
While the company still has the usual 30-day grace period to make the payment, investors should not expect this to happen as the recent double whammy of new oil price war and