---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-042197"
form_type: "8-K"
ticker: "VAL"
cik: "0000314808"
company_name: "Valaris Ltd"
filed_at: "2023-04-05T23:59:59+00:00"
generated_at: "2026-06-17T06:06:22.332848+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Valaris prices $700M 8.375% senior secured second lien notes due 2030, upsized from $600M

## Summary
- $700M aggregate principal of 8.375% Senior Secured Second Lien Notes due 2030, priced at par, upsized from $600M.
- Net proceeds of ~$685M to redeem all outstanding Senior Secured First Lien Notes due 2028 and for general corporate purposes.
- Also entered into a $375M five-year senior secured revolving credit facility on April 3, 2023, cross-conditioned with the offering.
- Closing expected April 19, 2023, subject to customary conditions.

## SEC filing metadata
- accession: 0001104659-23-042197
- form_type: 8-K
- ticker: VAL
- cik: 0000314808
- company_name: Valaris Ltd
- filed_at: 2023-04-05T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/314808/000110465923042197/0001104659-23-042197-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/314808/000110465923042197/tm2311801d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-042197
- JSON: https://secwatch.observer/filing/0001104659-23-042197.json
- Plain text: https://secwatch.observer/filing/0001104659-23-042197.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.