Burford Capital issues $500M 7.50% senior notes due 2033 to refinance 2025 bonds

Burford Capital Ltd

Issued $500M aggregate principal of 7.50% senior notes due July 15, 2033; interest payable semi-annually.
Guaranteed on a senior unsecured basis by Burford Capital and two wholly owned subsidiaries.
Net proceeds to repay the 6.125% bonds due 2025 at maturity; remainder for general corporate purposes including potential repayment of 5.00% bonds due 2026.
Indenture includes restrictive covenants on incurring additional debt, dividends, liens, mergers, and affiliate transactions.
Upon a Change of Control Triggering Event, issuer must offer to repurchase notes at 101% of principal plus accrued interest.

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