---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-088831"
form_type: "8-K"
ticker: "VAL"
cik: "0000314808"
company_name: "Valaris Ltd"
filed_at: "2023-08-08T23:59:59+00:00"
generated_at: "2026-06-12T03:07:38.616735+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Valaris prices $400M upsized 8.375% senior secured notes due 2030 for drillship purchases

## Summary
- Issued $400M in additional 8.375% Senior Secured Second Lien Notes due 2030 at 100.75% of par.
- Upsized from original $350M offering; net proceeds ~$396M after discount and expenses.
- Proceeds to fund ~$337M purchase of drillships VALARIS DS-13 and DS-14, with delivery option by Dec 31, 2023.
- Closing expected August 21, 2023; notes form a single series with $700M existing notes issued April 19, 2023.

## SEC filing metadata
- accession: 0001104659-23-088831
- form_type: 8-K
- ticker: VAL
- cik: 0000314808
- company_name: Valaris Ltd
- filed_at: 2023-08-08T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/314808/000110465923088831/0001104659-23-088831-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/314808/000110465923088831/tm2322507d4_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-088831
- JSON: https://secwatch.observer/filing/0001104659-23-088831.json
- Plain text: https://secwatch.observer/filing/0001104659-23-088831.txt

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