October 9, 2017 / 4:26 AM / a year ago

BRIEF-Borr raises $650 mln in share issue, proceeds with Sembcorp rig deal

Oct 9 (Reuters) - Borr Drilling Ltd

* Successful completion of equity offering through subscription and allocation of 162,500,000 new shares at a subscription price of usd 4.00 per share, raising gross proceeds of usd 650 million

* ‍equity offering was substantially oversubscribed. Borr drilling and Sembcorp unit PPL will proceed with sale and purchase of nine jack-up rigs

* ABG Sundal Collier ASA, Clarksons Platou Securities AS, DNB Markets, a part of DNB Bank ASA, Fearnley Securities AS, Pareto Securities AS, Skandinaviska Enskilda Banken AB and Sparebank 1 Markets AS acted as Joint Lead Managers and Bookrunners for the Equity Offering

* Schlumberger Oilfield Holdings Limited and companies associated with Mr Tor Olav Troeim have, based on pre- subscription agreements, been allocated a participation in the Equity Offering in the amount of USD 50 million and USD 25 million, respectively Source text for Eikon: Further company coverage: (Reporting By Terje Solsvik)

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