Borr Drilling Proposes $250M Convertible Note Sale, Shares Slip in After-Hours Trading
Borr Drilling said it plans a $250 million offering of convertible senior notes due 2033, triggering a 6.5% decline in its shares in after-hours trading. The package includes an overallotment option and is intended to fund repurchases of outstanding 2028 convertible bonds and other corporate uses, with the offering subject to market conditions.