BURFORD CAPITAL ANNOUNCES PRIVATE OFFERING OF SENIOR NOTES
Burford Capital (NYSE:BUR), a leading global finance and asset management firm focused on law, has announced a planned private offering of $400 million senior notes due 2033. The notes will be issued through its subsidiary, Burford Capital Global Finance LLC, and will be guaranteed on a senior unsecured basis by Burford Capital and its subsidiaries.
The company plans to use the proceeds to repay the 6.125% bonds due 2025 and for general corporate purposes, which may include repaying the 5.000% bonds due 2026. The offering will be limited to Qualified Institutional Buyers and non-US persons who qualify as Qualified Purchasers.
Burford Capital (NYSE:BUR), una società globale leader nel settore della finanza e gestione patrimoniale con focus sul diritto, ha annunciato un'offerta privata pianificata di obbligazioni senior da 400 milioni di dollari con scadenza 2033. Le obbligazioni saranno emesse tramite la sua controllata, Burford Capital Global Finance LLC, e saranno garantite da Burford Capital e dalle sue controllate su base senior non garantita.
L'azienda prevede di utilizzare i proventi per rimborsare le obbligazioni al 6,125% in scadenza nel 2025 e per scopi aziendali generali, che potrebbero includere il rimborso delle obbligazioni al 5,000% in scadenza nel 2026. L'offerta sarà riservata esclusivamente a Investitori Istituzionali Qualificati e a persone non statunitensi che soddisfano i requisiti di Acquirenti Qualificati.
Burford Capital (NYSE:BUR), una empresa global lÃder en finanzas y gestión de activos enfocada en el ámbito legal, ha anunciado una oferta privada planificada de notas senior por 400 millones de dólares con vencimiento en 2033. Las notas serán emitidas a través de su subsidiaria, Burford Capital Global Finance LLC, y estarán garantizadas en una base senior no garantizada por Burford Capital y sus subsidiarias.
La compañÃa planea utilizar los ingresos para pagar los bonos al 6.125% con vencimiento en 2025 y para propósitos corporativos generales, que pueden incluir el pago de los bonos al 5.000% con vencimiento en 2026. La oferta estará limitada a Compradores Institucionales Calificados y personas fuera de EE.UU. que califiquen como Compradores Calificados.
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Burford Capital (NYSE:BUR), une société mondiale de premier plan dans la finance et la gestion d'actifs axée sur le droit, a annoncé une offre privée prévue de obligations senior de 400 millions de dollars échéant en 2033. Les obligations seront émises par sa filiale, Burford Capital Global Finance LLC, et garanties sur une base senior non garantie par Burford Capital et ses filiales.
La société prévoit d'utiliser les fonds pour rembourser les obligations à 6,125 % arrivant à échéance en 2025 et pour des besoins généraux d'entreprise, ce qui pourrait inclure le remboursement des obligations à 5,000 % arrivant à échéance en 2026. L'offre sera limitée aux acheteurs institutionnels qualifiés et aux personnes non américaines qualifiées en tant qu'acheteurs qualifiés.
Burford Capital (NYSE:BUR), ein führendes globales Finanz- und Vermögensverwaltungsunternehmen mit Schwerpunkt auf Recht, hat eine geplante Privatplatzierung von 400 Millionen US-Dollar vorrangigen Schuldverschreibungen mit Fälligkeit 2033 angekündigt. Die Schuldverschreibungen werden über die Tochtergesellschaft Burford Capital Global Finance LLC ausgegeben und von Burford Capital sowie dessen Tochtergesellschaften auf unbesicherter vorrangiger Basis garantiert.
Das Unternehmen plant, die Erlöse zur Rückzahlung der 6,125% Anleihen mit Fälligkeit 2025 und für allgemeine Unternehmenszwecke zu verwenden, was auch die Rückzahlung der 5,000% Anleihen mit Fälligkeit 2026 einschließen kann. Das Angebot ist auf qualifizierte institutionelle Käufer und Nicht-US-Personen, die als qualifizierte Käufer gelten, beschränkt.
- New $400 million senior notes offering strengthens long-term debt profile
- Extension of debt maturity to 2033
- Strategic refinancing of existing bonds with potentially lower interest rates
- Increased long-term debt obligations
- Limited to qualified institutional buyers, restricting potential investor base
Insights
Burford Capital's $400M senior notes offering aims to refinance existing debt, potentially improving maturity profile and demonstrating continued market access.
Burford Capital is pursuing a $400 million private offering of senior notes due 2033 through its subsidiary. This represents a significant debt issuance with an 8-year maturity, longer than typical corporate debt horizons. The primary purpose is refinancing, specifically to repay the 6.125% bonds maturing in 2025, with potential additional repayment of 5.000% bonds due 2026.
This refinancing strategy serves multiple objectives. First, it addresses near-term debt maturities, extending Burford's debt profile and reducing immediate refinancing pressures. Second, depending on the interest rate secured on these new notes (not disclosed in the release), this could potentially lower Burford's overall borrowing costs in the current rate environment.
For a litigation finance firm like Burford, maintaining access to capital markets is crucial given the capital-intensive nature of funding legal cases, which can have multi-year durations before producing returns. This successful debt issuance demonstrates continued investor confidence in Burford's business model and creditworthiness.
The private placement structure targeting Qualified Institutional Buyers and Qualified Purchasers indicates Burford is focusing on sophisticated institutional investors rather than retail markets. This approach often allows for more efficient execution and potentially better pricing for the issuer compared to public offerings with broader distribution requirements.
Burford Capital intends to use the net proceeds from the offering of the Securities to repay the
The Securities have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act"), or the laws of any other jurisdiction and may not be offered or sold within
About Burford Capital
Burford Capital is the leading global finance and asset 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 New York Stock Exchange (NYSE: BUR) and the London Stock Exchange (LSE: BUR) and works with companies and law firms around the world from its global network of offices.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities of Burford.
This announcement does not constitute an offer of anyÌýBurford private fund. Burford Capital Investment Management LLC, which acts as the fund manager of all Burford private funds, is registered as an investment adviser with the US Securities and Exchange Commission. The information provided in this announcement is for informational purposes only. Past performance is not indicative of future results. The information contained in this announcement is not, and should not be construed as, an offer to sell or the solicitation of an offer to buy any securities (including, without limitation, interests or shares in any of Burford private funds). Any such offer or solicitation may be made only by means of a final confidential private placement memorandum and other offering documents.
Prohibition of sales to retail investors in the European Economic Area. The Securities are not intended to be offered, sold or otherwise made available to, and should not be offered, sold or otherwise made available to, any retail investor in the European Economic Area (the "EEA"). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, "MiFID II"); (ii) a customer within the meaning of Directive (EU) 2016/97 (as amended, the "Insurance Distribution Directive"), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a "qualified investor" as defined in Regulation (EU) No. 2017/1129 (as amended, the "Prospectus Regulation"). No key information document required by Regulation (EU) 1286/2014 (as amended, the "PRIIPs Regulation") for offering or selling the Securities or otherwise making them available to retail investors in the EEA has been prepared and, therefore, offering or selling the Securities or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation.
Prohibition of sales to retail investors in the
IN MEMBER STATES OF THE EEA, THIS ANNOUNCEMENT IS DIRECTED ONLY AT PERSONS WHO ARE "QUALIFIED INVESTORS" WITHIN THE MEANING OF THE PROSPECTUS REGULATION IN SUCH MEMBER STATE AND SUCH OTHER PERSONS AS THIS ANNOUNCEMENT MAY BE ADDRESSED ON LEGAL GROUNDS, AND NO PERSON THAT IS NOT A RELEVANT PERSON OR QUALIFIED INVESTOR MAY ACT OR RELY ON THIS ANNOUNCEMENT OR ANY OF ITS CONTENTS. IN THE
Forward-looking statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the US Securities Exchange Act of 1934, as amended, that are intended to be covered by the safe harbor provided for under these sections. In some cases, words such as "aim", "anticipate", "believe", "continue", "could", "estimate", "expect", "forecast", "guidance", "intend", "may", "plan", "potential", "predict", "projected", "should" or "will", or the negative of such terms or other comparable terminology, are intended to identify forward-looking statements. Although Burford believes that the assumptions, expectations, projections, intentions and beliefs about future results and events reflected in forward-looking statements have a reasonable basis and are expressed in good faith, forward-looking statements involve known and unknown risks, uncertainties and other factors, which could cause Burford's actual results and events to differ materially from (and be more negative than) future results and events expressed, projected or implied by these forward-looking statements. Factors that might cause future results and events to differ include, among others, those discussed in the "Risk Factors" section of Burford's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the US Securities and Exchange Commission on March 3, 2025. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements contained in the periodic and current reports that Burford files with or furnishes to the US Securities and Exchange Commission. Many of these factors are beyond Burford's ability to control or predict, and new factors emerge from time to time. Furthermore, Burford cannot assess the impact of each such factor on its business or the extent to which any factor or combination of factors may cause actual results and events to be materially different from those contained in any forward-looking statement. Given these uncertainties, readers are cautioned not to place undue reliance on Burford's forward-looking statements.
All subsequent written and oral forward-looking statements attributable to Burford or to persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements speak only as of the date of this press release and, except as required by applicable law, Burford undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Burford Capital Limited