23 Mar 2016 07:02
23 March 2016
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
BURFORD CAPITAL PLC
INTENTION TO HOLD INVESTOR MEETINGS
TO GAUGE DEMAND FOR POSSIBLE ISSUE OF STERLING BONDS
Burford Capital PLC, a wholly owned indirect subsidiary of Burford Capital Limited ("Burford") announces that it will later this month be conducting a series of meetings with UK fixed income investors to gauge demand for the marketing of a possible second offering of sterling retail bonds by Burford Capital PLC, guaranteed by Burford. Any such offer will be subject to market conditions.
HIGHLIGHTS
· Burford Capital PLC is the legal entity that would issue the bonds. It is a finance company and an indirect, wholly-owned subsidiary of Burford, which will be the legal entity guaranteeing payments under any bond issue.
· Burford is the parent company of the Burford group of companies, and is a leading global finance firm focused on law. Its businesses include litigation finance, insurance and risk transfer, law firm lending, corporate intelligence and judgment enforcement, and a wide range of investment activities.
· Burford believes that litigation finance is an attractive and rapidly growing asset class, with the potential for uncorrelated high returns provided by investments with automatic exits.
· For the financial year ended 31 December 2015, Burford reported more than $100 million in income and, as at 31 December 2015, had approximately $434 million in net assets.
· Burford's return on invested capital on concluded investments in 2015 rose to 70% (from 60% in 2014) and its IRR rose to 28% (from 24% in 2014).
· Burford's investment portfolio produced significant cash in 2015 - $140 million, more than twice 2014's level of $63 million.
· Further details of Burford's financial performance in 2015 are available in the Annual Report and Financial Statements which Burford has separately published today and are also available at www.burfordcapital.com/investor-relations/.
· 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.
· Burford Capital PLC has today separately published its Annual Report and Financial Statements 2015, which are also available at http://www.burfordcapital.com/investor-relations/bonds/.
For further information, please contact:
Canaccord Genuity
Adrian Bell +44 (0) 20 7523 8000
Mark Glowrey
Henrietta Podd
Peel Hunt +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. Our 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. We work with lawyers and clients around the world from our principal offices in New York and London.
For more information about Burford, visit www.burfordcapital.com
IMPORTANT INFORMATION
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 who come into possession of this announcement or any document or other information referred to herein should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities law of any 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 securities.
Any securities referred to herein will not be registered under the U.S. Securities Act of 1933, as amended, (the "Securities Act"). Subject to certain exceptions, such securities may not be offered, sold or delivered within the United States or to, or for the account or benefit of U.S. persons. Any securities referred to herein are expected to be offered and sold outside of the United States in reliance on Regulation S of the Securities Act. There will be no public offering in the United States.
This announcement does not constitute and shall not, in any circumstances, constitute a public offering nor an invitation to the public in connection with any offer within the meaning of the Directive 2010/73/EU of the Parliament and Council of November 4, 2003 as implemented by the Member States of the European Economic Area (the "Prospectus Directive"). Any offer and sale of the notes will be made in compliance with the requirements of the Prospectus Directive, as implemented in Member States of the European Economic Area.
This communication is directed only at persons who (i) are outside the United Kingdom or (ii) have professional experience in matters relating to investments or (iii) are persons falling within Article 49 (2(a) to (d) ("high net worth companies, unincorporated associations etc") of The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iv) any other persons to whom this communication may lawfully be communicated pursuant to the Order (all such persons together being referred to as "relevant persons"). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons.