Last checked at 5 Apr 2016 15:56
The information contained herein is not for release, publication or distribution in or into the United States, Australia, Canada, Japan, South Africa, the Republic of Ireland or in any other jurisdiction where it is unlawful to distribute this document. The information contained herein may only be released, published or distributed in the United Kingdom, Jersey, the Bailiwick of Guernsey and the Isle of Man in accordance with the applicable regulatory requirements.
SEE "IMPORTANT INFORMATION" BELOW
5 April 2016
BURFORD CAPITAL PLC
LAUNCH OF 6.125% GUARANTEED STERLING BONDS DUE 2024
Burford Capital PLC, a wholly owned indirect subsidiary of Burford Capital Limited ("Burford"), announces that it has today launched an offer of 6.125% sterling bonds due 26 October 2024 (the "Bonds") which will be guaranteed by Burford.
The Bonds will pay a fixed rate of interest of 6.125% per annum. Interest will be payable semi-annually in arrear in equal instalments.
The Bonds have a minimum initial subscription amount of £2,000 and are available in multiples of £100 thereafter.
At any time during the life of the Bonds, investors are permitted to sell the Bonds (within market hours and in normal market conditions) on the open market through their stockbroker.
The Bonds are expected to be listed on the Official List of the UK Listing Authority and admitted to trading on the regulated market of the London Stock Exchange. The Bonds are also expected to be eligible for the London Stock Exchange's electronic Order Book for Retail Bonds.
Canaccord Genuity Limited and Peel Hunt LLP are acting as Joint Lead Managers on this issue.
The offer period is now open and is expected to close at 12pm (London time) on 19 April 2016. The Joint Lead Managers retain the right to close the offer early, in conjunction with Burford.
For further information, please contact:
Canaccord Genuity Limited
Adrian Bell +44 (0) 20 7523 8000
Mark Glowrey
Henrietta Podd
Peel Hunt LLP +44 (0) 20 7418 8900
Matthew Armitt
Kathy Boate
Neustria Partners - Financial Communications for Burford Capital
Robert Bailhache +44 (0) 20 3021 2580
robert.bailhache@neustriapartners.com
About Burford Capital PLC
Burford Capital PLC is a special purpose financing vehicle created to issue Burford's 2014 retail bonds and an indirect wholly-owned subsidiary of Burford Capital Limited.
About Burford Capital
Burford is a leading global finance firm focused on law. Burford's businesses include litigation finance, insurance and risk transfer, law firm lending, corporate intelligence and judgment enforcement, and a wide range of investment activities. Burford's equity and debt securities are publicly traded on the London Stock Exchange. Burford works with lawyers and clients around the world from its principal offices in New York and London.
For more information about Burford, visit www.burfordcapital.com
Notes to Editors:
ABOUT THE BONDS
1. The Bonds may not be suitable for all investors. Investors should ensure that they fully understand the risks and seek independent advice.
2. Investors should note that the market price of the Bonds can rise and fall during the life of the investment and that the price of Bonds could fall below the issue price of £100.
3. In the event that either Burford or any of its direct or indirect subsidiaries defaults, becomes insolvent or goes out of business, investors may lose some or all of their investment.
4. Burford Capital PLC previously raised £90m through an issue of bonds listed on the London Stock Exchange's Order Book for Retail Bonds in 2014 ("Existing Bonds").
5. The Bonds will rank pari passu with the Existing Bonds.
IMPORTANT INFORMATION
This announcement is an advertisement and is not a prospectus for the purposes of EU Directive 2003/71/EC, as amended (the "Directive"), and/or Part VI of the Financial Services and Markets Act 2000 (the "FSMA"). A prospectus dated 5 April 2016 (the "Prospectus") has been prepared and made available to the public as required by Part VI of the FSMA. Investors should not subscribe for any Bonds referred to in this announcement except on the basis of information in the Prospectus. Full information on Burford Capital plc and the offer of the Bonds is only available on the basis of the combination of the Prospectus, and this announcement which have been published by Burford Capital plc on the Regulatory News Service operated by the London Stock Exchange on or about 5 April 2016 and setting out the aggregate principal amount of the Bonds to be issued (the "Sizing Announcement"). Investors may obtain copies of the Prospectus and the Sizing Announcement (once published) on the website of the Regulatory News Service.
The restriction on financial promotions contained in section 21(1) of the Financial Services and Markets Act 2000 does not apply to this announcement by virtue of article 70(1A) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended.
The offering and the distribution of this announcement and other information in connection with any offer in certain jurisdictions may be restricted by law and persons into whose possession this announcement or any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
This announcement does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase. Any purchase of Bonds pursuant to any offer should only be made on the basis of the information contained in the Prospectus, available as described above.
The Bonds have not been and will not be registered under the US Securities Act of 1933, as amended, (the "Securities Act") and, subject to certain exceptions, may not be offered, sold or delivered within the United States or to, or for the account or benefit of U.S. persons. The Bonds are being offered and sold outside of the United States in reliance on Regulation S of the Securities Act, and are subject to certain U.S. tax law requirements. There will be no public offering in the United States.