May 2023
Conyers advised on the Bermuda law aspects of Valaris Limited’s private placement of US$700 million in aggregate principal amount of 8.375% Senior Secured Second Lien Notes due 2030 and a US$375-million senior secured revolving credit facility provided to Valaris Limited.
Valaris Limited is a Bermuda-exempted company listed on the New York Stock Exchange (NYSE: VAL) and an industry leader in offshore drilling services.
Bermuda Director Jennifer Panchaud, London Counsel Karoline Tauschke and Bermuda Associates Hailey Edwards and Nicole Yearwood advised on the transaction, which completed on 19 April 2023, working alongside Gibson, Dunn & Crutcher LLP.