Watch the latest episode of focusIR Fireside Chats: Why Edinburgh Investment Trust Is Backing Turnaround Stocks for 2026 Growth. Viewhere

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBurford Capital Regulatory News (BUR)

Share Price Information for Burford Capital (BUR)

Share Price is delayed by 15 minutes
Get Live Data
308.40    12.80 (4.33%)
Bid:
306.00
Ask:
306.60
Spread: 0.60 (0.196%)
Market Cap: £675.61m
BUR Live PriceLast checked at - London Stock Exchange

Intraday Burford Capital Share Chart

Significant Growth in Investment Commitments

10 Jan 2018 07:00

RNS Number : 4195B
Burford Capital
10 January 2018
 

This announcement contains inside information.

 

10 January 2018

 

BURFORD CAPITAL REPORTS SIGNIFICANT GROWTH IN INVESTMENT COMMITMENTS

 

2017 commitments exceed $1.3 billion, more than triple 2016 level

Company also advises re financial calendar and investor meetings re possible bond issue

 

Burford Capital Limited ("Burford" or "the Company"), a leading global finance and investment management firm focused on law, today reports on the strong growth in its new investment commitments.

 

In 2017, Burford made $1.3 billion in new commitments, more than triple its 2016 level. The new commitments reflect a number of dynamics in Burford's business: continued growth in demand for capital in its core litigation finance business; access to capital through direct balance sheet investing and its new investment management business; and continued expansion of Burford's product offerings and investment strategies.

 

The new commitments are broken out below in the same categories used in Burford's interim results for the six months ended 30 June 2017 and investors are referred to Burford's 2017 interim report for an explanation of those categories (available at http://www.burfordcapital.com/investors/financial-reports-and-presentations/).

 

Total Investment Commitments made during financial year ended 31 December 2017

 

Balance sheet

commitments

 

Fund & other vehicle commitments

Single case finance

$34.4m

5%

$38.3m

6%

Portfolio finance

$377.8m

54%

$347.7m

54%

Recourse finance

$226.9m

33%

$248.4m

38%

Legal risk management

$59.2m

8%

$10.8m

2%

Total

$698.3m

100%

$645.2m

100%

Total Investment Commitments

$1,343.5m

 

 

Investor Meetings re Possible Bond Issue

 

Given the growth Burford has experienced, the Company intends to hold meetings with fixed income investors. A bond issue may follow subject to market conditions and pricing.

 

 

Notice of Results for the Financial Year ended 31 December 2017

 

Burford intends to release its full year results on 14 March 2018 and will host a conference call for investors and analysts at 2pm London time (GMT) / 10am New York time (EDT) that day.

 

As previously noted, Burford's board of directors determines the fair values of investments following the close of each financial reporting period after taking into account the views of management, the operation of the audit process and input from external experts (as it considers appropriate). Generally, that process does not conclude finally until shortly before the release of Burford's financial results for the relevant period and as a result Burford is unable to comment or provide guidance on its 2017 financial results in advance of their release.

 

 

Christopher Bogart, Burford's Chief Executive Officer, commented:

"We are delighted with the growth of the business in 2017. The new commitments made during the year have the potential to generate significant future income in the years to come and reflect a robust legal finance market that Burford continues to lead."

 

 

The person responsible for arranging for the release of this announcement on behalf of the Company is Elizabeth O'Connell, Chief Financial Officer.

 

 

For further information, please contact:

 

Burford Capital Limited

 

Elizabeth O'Connell, CFA, Chief Financial Officer

+1 212 235 6825

 

 

Macquarie Capital (Europe) Limited - NOMAD and Joint Broker

+44 (0)20 3037 2000

Jonny Allison

 

Nicholas Harland

 

 

 

Liberum Capital Limited - Joint Broker

+44 (0)20 3100 2222

Richard Crawley

 

Jamie Richards

 

 

 

Numis Securities Limited - Joint Broker

+44 (0)20 7260 1000

Charlie Farquhar

 

Harry Trueman

 

 

 

Neustria Partners - Financial Communications for Burford Capital

+44 (0)20 3021 2580

Robert Bailhache [email]

 

Charles Gorman [email]

 

Nick Henderson [email]

 

 

 

About Burford Capital

Burford Capital is a leading global finance and investment management firm focused on law. Its businesses include litigation finance and risk management, asset recovery and a wide range of legal finance and advisory activities. Burford is publicly traded on the London Stock Exchange, and it works with law firms and clients around the world from its principal offices in New York, London, Chicago and Singapore.

For more information about Burford: www.burfordcapital.com

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTEANFNEESPEFF
Date   Source Headline
22nd May 20182:03 pmRNSResult of AGM
23rd Apr 20181:09 pmRNSTR1 Notification of major holdings
20th Apr 20182:48 pmRNSStatement on Invesco Shareholding
23rd Mar 201811:35 amRNSDirector/PDMR Notification
21st Mar 20187:00 amRNSResult of Placing / PDMR Notification
20th Mar 20184:31 pmRNSProposed Placing
14th Mar 20187:00 amRNSFull Year Results 2017
13th Mar 20187:00 amRNSBurford sells Teinver investment for $107 million
6th Mar 20182:02 pmRNSTR1 - Notification of major holdings
28th Feb 201810:30 amRNSNotice of FY17 Results & Conference Call
14th Feb 20183:36 pmRNSTR1 - Notification of Major holdings
5th Feb 20187:00 amRNSBurford appoints Chief Accounting Officer
30th Jan 20184:18 pmRNSBurford Raises $180m in Pioneering USD Bond Issue
23rd Jan 20184:36 pmRNSLaunch of 6.125% Eurodollar bonds due 2025
18th Jan 20182:19 pmRNSHolding(s) in Company
10th Jan 20187:00 amRNSSignificant Growth in Investment Commitments
15th Dec 20177:00 amRNSFund Business Progress,Senior Team Expand/Realigns
13th Dec 20174:56 pmRNSTR1 - Notification of major holdings
26th Oct 20179:00 amRNSSterling FX Rate for Interim 2017 Dividend
18th Oct 20171:34 pmRNSTR-1 Notification of Major Holdings
13th Oct 20171:05 pmRNSNotification of major holdings TR1
3rd Oct 20179:00 amRNSBurford Opens in Singapore & Appoints Quentin Pak
12th Sep 20179:00 amRNSBurford Appoints Mark Klein as General Counsel
17th Aug 20174:39 pmRNSHolding(s) in Company
1st Aug 20171:24 pmRNSStatement re New Portfolio Financing Transaction
27th Jul 20177:00 amRNSInterim Results for six months ended 30 June 2017
24th Jul 20177:00 amRNSFavourable Investment Result
21st Jul 201710:32 amRNSNotice of 1H17 Results & Investor Conference Call
3rd Jul 20177:00 amRNS$500m complex strategies investment fund close
13th Jun 20177:00 amRNSFurther Petersen Secondary Market Transaction
5th Jun 20174:31 pmRNSNotice of 1H17 Results / 2016 Final Div FX Rate
19th May 201710:05 amRNSBurford Raises £175million (US$225m) in Bond Issue
16th May 201712:34 pmRNSNotification of Major Interest in Shares
16th May 201712:06 pmRNSAGM Statement of Result
11th May 20175:44 pmRNSLaunch of 5% Guaranteed Sterling Bonds due 2026
8th May 20177:00 amRNSSETS Electronic Order Book
26th Apr 20177:13 amRNSInvestor meetings re possible sterling bond issue
29th Mar 20171:46 pmRNSTR-1: Notification of Major Interest in Shares
29th Mar 20179:51 amRNSNotification of transaction
14th Mar 20177:01 amRNSFull Year Results 2016
14th Mar 20177:00 amRNSFurther Petersen Secondary Market Transaction
6th Mar 20179:00 amRNSNotice of FY16 Results & Conference Call
24th Jan 20174:25 pmRNSNotification of Major Interest in Shares
12th Jan 20174:23 pmRNSNotification of Major Interest in Shares
3rd Jan 20177:00 amRNSFurther Secondary Market Transaction Activity
16th Dec 20162:52 pmRNSNotification of Major Interest in Shares
15th Dec 20163:49 pmRNSResult of Meeting
14th Dec 20166:08 pmRNSCompletion of Acquisition / Total Voting Rights
14th Dec 201611:05 amRNSSecond Price Monitoring Extn
14th Dec 201611:00 amRNSPrice Monitoring Extension

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.