Burford Capital Plans $400 Mln Private Notes Offering

(RTTNews) - Burford Capital Ltd. (BUR), a finance and asset management firm focused on law, on Monday announced a planned private offering of $400 million in senior notes due 2033 through its unit Burford Capital Global Finance LLC.

Burford Capital plans to use the net proceeds from the offering to repay its 6.125% bonds due 2025 at maturity, with the remaining funds allocated for general corporate purposes. It may include the repayment or retirement of other existing debt, such as the 5.000% bonds due 2026.

The notes will be guaranteed on a senior unsecured basis by Burford Capital and its subsidiaries, Burford Capital Finance LLC and Burford Capital PLC.

The company said that the announcement does not constitute a redemption notice or an offer to purchase the 2025 bonds or any other debt.

In the pre-market trading, Burford Capital is 2.98% lesser at $13.66 on the New York Stock Exchange.