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Pin to quick picksBurford Capital Share News (BUR)

Share Price Information for Burford Capital (BUR)

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Share Price: 767.50
Bid: 767.50
Ask: 769.00
Change: 9.50 (1.25%)
Spread: 1.50 (0.20%)
Open: 760.00
High: 772.50
Low: 760.00
Yest. Close: 758.00
BUR Live PriceLast checked at -

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IN BRIEF: Burford Capital upsizes private note offer to USD400 million

Mon, 29th Mar 2021 11:19

Burford Capital Ltd - litigation finance firm - Upsizes private offering of senior notes by USD50 million. Now plans to offer USD400 million of 6.25% senior notes due 2028. The notes will be guaranteed on a senior unsecured basis by Burford Capital as well as Burford Capital Finance LLC and Burford Capital PLC, both indirect, wholly owned subsidiaries of Burford. The offering is expected to close on April 5, 2021. Burford intends to use the net proceeds from the offer for general corporate purposes, including the potential repayment or retirement of existing indebtedness.

Chief Executive Christopher Bogart says: "We are very pleased with our inaugural bond issue in the US institutional market, which represents the largest capital raising in Burford's history.

"Despite being a new issuer in that corporate bond market, the world's largest and deepest, we were able to obtain pricing well below initial indication and consistent with our existing debt in a significantly over-subscribed offering. Indeed, we increased the deal size from USD350 million, providing investors with more liquidity, and plan to use the incremental USD50 million of proceeds to retire existing debt."

Current stock price: 604.50 pence, up 3.1% on Monday

Year-to-date change: down 15%

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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