Borr Drilling secures financing and plans to raise further capital

Borr Drilling, founded by Tor Olav Trøim, has landed an agreement with its creditors and now plans to raise further capital. The two initiatives will strengthen the strained company's liquidity by more than USD 700 million in the coming year, says CEO.

Tor Olav Trøim is currently a member of the board at Borr Drilling. He helped found the company in 2016. | Photo: PR / Marine Money/Marine Money

BY SØREN PICO, SHIPPINGWATCH

Strained drilling company Borr Drilling plans to raise new capital and has now reached an agreement with its lenders.

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