Borr Drilling Limited - Collections update Mexico

Core Viewpoint - Borr Drilling Limited has reached an agreement with a major Mexican customer to settle approximately $125 million in outstanding receivables, which is expected to be collected in the first half of February 2025 [1][2]. Financial Summary - The$125 million payment represents over 75% of the outstanding receivables with this customer as of December 31, 2024 [2]. - The collections will incur an agreed financing fee in the mid-single digit percentage range [2]. Industry Implications - The CEO of Borr Drilling highlighted that the commitments from the Mexican government and PEMEX towards a sustainable supplier payment mechanism will positively impact future offshore drilling opportunities in Mexico [3].