---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-088107"
form_type: "8-K"
ticker: "VAL"
cik: "0000314808"
company_name: "Valaris Ltd"
filed_at: "2023-08-07T23:59:59+00:00"
generated_at: "2026-06-12T05:03:50.249538+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Valaris plans $350M add-on of 8.375% notes to fund drillship purchases

## Summary
- Issuers will offer $350M additional 8.375% Senior Secured Second Lien Notes due 2030.
- Net proceeds to finance ~$337M purchase of drillships VALARIS DS-13 and DS-14 by Dec 31, 2023.
- Notes form a single series with existing $700M notes issued April 2023.
- If drillship purchase not exercised, proceeds used for general corporate purposes.
- Offering is private placement under Rule 144A/Reg S.

## SEC filing metadata
- accession: 0001104659-23-088107
- form_type: 8-K
- ticker: VAL
- cik: 0000314808
- company_name: Valaris Ltd
- filed_at: 2023-08-07T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/314808/000110465923088107/0001104659-23-088107-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/314808/000110465923088107/tm2322507d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-088107
- JSON: https://secwatch.observer/filing/0001104659-23-088107.json
- Plain text: https://secwatch.observer/filing/0001104659-23-088107.txt

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