Sembmarine agrees to defer $1.09 billion receivables from Borr Drilling for 2 years - Printable Version
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Sembmarine agrees to defer $1.09 billion receivables from Borr Drilling for 2 years - forum456 - 28-12-2021
https://www.straitstimes.com/business/companies-markets/sembmarine-unit-agrees-to-defer-109-billion-receivables-from-borr-drilling-for-2-years
RE: Sembmarine agrees to defer $1.09 billion receivables from Borr Drilling for 2 years - klat - 28-12-2021
SembM really jialat. Going, going, gone?
RE: Sembmarine agrees to defer $1.09 billion receivables from Borr Drilling for 2 years - alanis - 28-12-2021
(28-12-2021, 10:00 AM)klat Wrote: SembM really jialat. Going, going, gone?
Will collapse or not?
RE: Sembmarine agrees to defer $1.09 billion receivables from Borr Drilling for 2 years - alanis - 28-12-2021
Was a good company before oil prices collapsed!
RE: Sembmarine agrees to defer $1.09 billion receivables from Borr Drilling for 2 years - sgxin - 28-12-2021
(28-12-2021, 10:22 AM)!alanis Wrote: Will collapse or not?
Not sure about SMM, but Borr Drilling seems to be very broke - don't even have US$30m !
Googled and found this yesterday news:
BORR DRILLING LIMITED – CONTEMPLATED EQUITY OFFERING OF USD 30 MILLION
Quote:Borr Drilling Limited (the “Company”) (NYSE and OSE: “BORR”) announces that in connection with its recently announced agreement to refinance and defer $1.4 billion of debt maturities and yard instalments to 2025, the Company is contemplating to offer approximately USD 30 million in new depository receipts (the “Offer Shares”), representing the beneficial interests in the same number of the Company’s underlying common shares, each with a par value of USD 0.10 (the “Equity Offering”).https://borrdrilling.com/news/borr-drilling-limited-contemplated-equity-offering-of-usd-30-million/
Certain investors have pre-committed to subscribe for Offer Shares in the Equity Offering in the amount exceeding USD 30 million.
The net proceeds from the Equity Offering will be used for repayment to yards, to strengthen the Company’s working capital and for general corporate purposes.
RE: Sembmarine agrees to defer $1.09 billion receivables from Borr Drilling for 2 years - starbugs - 28-12-2021
Borr Drilling is probably hoping that Sembmarine will not be around in two years to collect the debt. See which company can tahan longer.