Burford Capital completes $500 million private offering of senior notes due 2033

Burford Capital Limited (NYSE:BUR, LSE AIM:BUR) announced Friday that its indirect, wholly owned subsidiary, Burford Capital Global Finance LLC, has closed a private offering of $500 million in aggregate principal amount of 7.50% senior notes due 2033. The information is based on a press release statement filed with the Securities and Exchange Commission.

The notes are guaranteed on a senior unsecured basis by Burford Capital and two other indirect, wholly owned subsidiaries, Burford Capital Finance LLC and Burford Capital PLC. The notes were issued under an indenture dated Friday, July 11, 2025, among the issuer, Burford Capital as parent guarantor, the other guarantors, and U.S. Bank Trust Company, National Association, as trustee.

According to the filing, Burford Capital intends to use the net proceeds from the offering to repay its 6.125% bonds due 2025 at maturity. Any remaining funds may be used for general corporate purposes, which could include repaying or retiring other existing debt, such as the 5.000% bonds due 2026 of Burford Capital PLC. The company stated that this report does not constitute a notice of redemption or an offer to purchase the 2025 bonds or any other indebtedness.

The notes bear interest at 7.50% per annum, payable semi-annually in arrears on January 15 and July 15, starting January 15, 2026. The notes are scheduled to mature on July 15, 2033. Burford Capital Global Finance LLC may redeem the notes, in whole or in part, at its discretion before maturity as described in the indenture.

The indenture includes covenants that limit the company and certain subsidiaries from incurring or guaranteeing additional debt, paying cash dividends, making other restricted payments, creating certain liens, or engaging in specific mergers, asset sales, or affiliate transactions, subject to exceptions outlined in the agreement.

If a Change of Control Triggering Event occurs, the issuer is required to offer to repurchase all outstanding notes at 101% of the principal amount plus accrued and unpaid interest up to the repurchase date.

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