Burford Capital Limited announced a private placement of $450 million in senior notes due 2034, to be issued through its wholly‑owned subsidiary Burford Capital Global Finance LLC. The notes will be guaranteed on a senior unsecured basis by Burford Capital and will be sold to qualified institutional buyers and non‑U.S. persons under Regulation S, with no public registration under the U.S. Securities Act.
The proceeds will be used to redeem the company’s existing 5.000 % bonds due December 1, 2026, and the remaining funds will support general corporate purposes, including the potential repayment or retirement of other indebtedness. By replacing short‑term debt with a longer‑term instrument, Burford extends its debt maturity profile to better match the 10‑year horizon of its litigation‑finance portfolio and reduces near‑term refinancing risk.
Burford’s decision comes on the back of a record 2023 year, when earnings per share rose 19‑fold to $2.74 and total revenue reached $1.1 billion. CEO Christopher Bogart has repeatedly highlighted the firm’s strong demand for its debt and its ability to secure favorable terms even in a high‑rate environment, underscoring the strategic advantage of its capital‑market access.
The offering is part of a broader debt‑management strategy that has seen Burford issue $500 million of senior notes due 2033 in July 2025 and $400 million of senior notes due 2031 in June 2023. By consolidating and extending maturities, the company simplifies its guarantee structure, improves liquidity, and positions itself to fund future case deployments without the pressure of short‑term debt obligations.
The private placement will close on a date to be determined, and the coupon rate and other specific terms have not yet been disclosed. The transaction is expected to be priced competitively, reflecting Burford’s strong credit profile and the continued investor appetite for its debt instruments.
While the offering itself has not yet triggered a market reaction, it reinforces Burford’s track record of accessing capital markets efficiently and supports its long‑term growth strategy in the litigation‑finance sector.
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