Burford Capital plans $300m senior secured notes offering

New York - Burford Capital Limited has announced plans for a $300 million private offering of senior secured notes due in 2029, through its subsidiary Burford Capital Global Finance LLC, according to a press release. The notes will be backed by the company and secured by most of Burford Capital Global Finance LLC's assets and certain subsidiary stock, with some exceptions.

The funds raised will be used to repay existing 6.250% senior notes due in 2028. Burford anticipates delivering a conditional redemption notice for the 2028 notes on September 24, 2026, at a price of $400 million principal, contingent on successfully completing the $300 million financing. These securities will be sold exclusively to qualified institutional buyers under Rule 144A of the Securities Act or non-U.S. individuals outside the U.S., classified as qualified purchasers under the Investment Company Act of 1940.

The offering is contingent on market and other conditions. Notably, the securities are not registered under the Securities Act of 1933 and cannot be offered or sold within the U.S. without proper registration or an applicable exemption. Burford Capital identifies itself as a global finance and asset management firm specialized in law.