Gold prices cool after hitting over 2-week high on Fed independence fears
NEW YORK - Burford Capital Limited, a finance and asset management firm focused on law, completed a $500 million senior notes offering on Friday, according to a press release statement.
The eight-year bonds were priced at 7.50% and were reportedly oversubscribed. The company plans to use the proceeds to repay bonds maturing in 2025, with the remainder allocated for general corporate purposes, potentially including repayment of other existing debt such as bonds due in 2026.
Christopher Bogart, Burford’s CEO, noted in the press release that the offering attracted strong demand, allowing the company to increase the issuance size while decreasing its price.
The company described the pricing as its most competitive relative to Treasuries that it has achieved to date.
Burford Capital is listed on the New York Stock Exchange and London Stock Exchange (LON:LSEG).
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