secwatch.observer — SEC 8-K summary
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Issuer:     Valaris Ltd (VAL)
CIK:        0000314808
Form:       8-K
Filed at:   2023-08-21T23:59:59+00:00
Accession:  0001104659-23-093930
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Valaris issues $400M of 8.375% Senior Secured Second Lien Notes due 2030 to fund drillship purchases
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- Issued $400M aggregate principal of 8.375% Senior Secured Second Lien Notes at 100.75% of par, net proceeds ~$396M.
- Proceeds to finance ~$337M purchase of drillships VALARIS DS-13 and DS-14, with delivery by Dec 31, 2023, and for general corporate purposes.
- Additional Notes rank equally with existing $700M notes issued April 2023, same terms, mature April 30, 2030.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/314808/000110465923093930/0001104659-23-093930-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/314808/000110465923093930/tm2324274d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-093930

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