Last checked at 30 Jan 2018 16:09
30 January 2018
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, Switzerland, Jersey, the Bailiwick of Guernsey and the Isle of Man in accordance with the applicable regulatory requirements.
MiFID II retail investors, professional investors and ECPs target market - Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients (all distribution channels) and also retail clients (all distribution channels).
SEE "IMPORTANT INFORMATION" BELOW
BURFORD CAPITAL FINANCE LLC (the "Issuer")
6.125% EURODOLLAR BONDS DUE 2025
Sizing Announcement
Terms used herein shall have the meaning given to them in the Prospectus dated 23 January 2018 (the "Prospectus") relating to the Bonds.
This announcement constitutes the Sizing Announcement as referred to in the Prospectus and must be read in conjunction with the Prospectus.
The Offer Period relating to the Bonds closed at 12 noon (London time) on 30 January 2018. Accordingly, Bonds can no longer be subscribed for pursuant to the offer and acceptances can no longer be withdrawn.
In accordance with Article 8(1) of the Prospectus Regulation, the Issuer is pleased to confirm the following in connection with the offer of the Bonds:
Issue Date: | 12 February 2018 |
Total principal amount of Bonds: | $180,000,000 |
Estimated net proceeds of the offer: | $177,750,000 |
Estimated expenses relating to the offer: | $2,250,000 |
Authorised Offerors | |
iDealing Limited | |
Redmayne-Bentley LLP | |
For further information, please contact:
Peel Hunt LLP | +44 (0)20 3597 8677 |
Henrietta Podd | |
Mark Glowrey | |
Neustria Partners - Financial Communications for Burford Capital | +44 (0)20 3021 2580 |
Robert Bailhache [email] | |
Charles Gorman [email] | |
Nick Henderson [email] |
About the Issuer
The Issuer is a special purpose financing vehicle created to issue US dollar denominated debt and an indirect wholly-owned subsidiary of Burford. It will be the issuer of the bonds now being offered.
About Burford Capital PLC
Burford Capital PLC is a special purpose financing vehicle created to issue 2014, 2016 and 2017 sterling retail-eligible bonds, and an indirect wholly-owned subsidiary of Burford. It is a guarantor of the bonds now being offered.
About Burford
Burford will be a guarantor of the bonds now being offered. It is a leading global finance and investment management firm focused on law. Burford's businesses include litigation finance and risk management, asset recovery, and a wide range of legal finance and advisory activities. Burford's equity and debt securities are 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, 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 has previously raised £90m, £100m and £175m through issues of bonds listed on the London Stock Exchange's Order Book for Retail Bonds in 2014, 2016 and 2017 respectively ("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 23 January 2018 (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 the Issuer 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 the Issuer on the Regulatory News Service operated by the London Stock Exchange. Investors may obtain copies of the Prospectus 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.