Wiersholm has assisted Borr Drilling in connection with an agreement on the purchase of nine premium jack-up rigs from PPL Shipyard Pte Limited in Singapore for a total value of USD 1.3 billion. Wiersholm has also assisted Borr Drilling with an equity offering of USD 650 million, which will part finance the purchase of the rigs. According to Dagens Næringsliv, this is the largest equity offering at the Oslo Stock Exchange since 2011.
Borr Drilling will take delivery of the first rig in Q4 2017. The remaining rigs will be delivered quarterly until the first quarter of 2019.
With this purchase, Borr increases its fleet from 17 to 26 rigs, of which 22 are constructed after 2000. Earlier this year, Wiersholm assisted Borr Drilling with the purchase of 2 jack-up rigs from Hercules for a total value of USD 130 million, followed by assistance with the purchase of 15 jack-up rigs from Transocean for a total value of USD 1.35 billion. Borr Drilling has thus purchased rigs for approx. USD 2.8 billion this far in 2017.
Wiersholm also assisted with the stock exchange listing in August 2017.