SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* OAK HILL ADVISORS LP (Last) (First) (Middle) 1114 AVENUE OF THE AMERICAS 38TH FLOOR (Street) NEW YORK NY 10036 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 04/30/2021	3. Issuer Name and Ticker or Trading Symbol Valaris Ltd [ VAL ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares, $0.01 par value per share	8,979,806	I	See footnotes(1)(2)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* OAK HILL ADVISORS LP (Last) (First) (Middle) 1114 AVENUE OF THE AMERICAS 38TH FLOOR (Street) NEW YORK NY 10036 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Oak Hill Advisors GenPar, L.P. (Last) (First) (Middle) 1114 AVENUE OF THE AMERICAS 38TH FLOOR (Street) NEW YORK NY 10036 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Oak Hill Advisors MGP, Inc. (Last) (First) (Middle) 201 MAIN STREET (Street) FORT WORTH TX 76102 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* AUGUST GLENN R (Last) (First) (Middle) 1114 AVENUE OF THE AMERICAS, 38TH FLOOR (Street) NEW YORK NY 10036 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. Oak Hill Advisors, L.P. ("OHA") is an advisor to certain client accounts (directly or indirectly through an affiliate) which hold the securities reported herein. Oak Hill Advisors GenPar, L.P. is the general partner of OHA. Oak Hill Advisors MGP, Inc. is the managing general partner of Oak Hill Advisors GenPar, L.P. Mr. Glenn R. August controls OHA.

2. Pursuant to Rule 16a-1 under the Exchange Act of 1934, as amended (the "Act"), the Reporting Persons may be deemed to be the indirect beneficial owners of the securities held by the OHA client accounts only to the extent of their respective pecuniary interest therein, if any. Pursuant to Rule 16a-1(a)(4) under the Act, this filing shall not be deemed an admission that the Reporting Persons are, for purposes of Section 16 of the Act or otherwise, the beneficial owners of any securities held by the OHA client accounts, in each case except to the extent of such pecuniary interest, if any.

	/s/Glenn R. August, individually and on behalf of Oak Hill Advisors, L.P., Oak Hill Advisors GenPar, L.P. and Oak Hill Advisors MGP, Inc.	05/10/2021
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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