debt
confidence high
sentiment neutral
materiality 0.60
Burford Capital closes $300M 8.000% senior secured notes due 2029
Burford Capital Ltd
- Issued $300M aggregate principal of 8.000% senior secured notes due Oct 15, 2029; guaranteed by Burford Capital.
- Net proceeds, with cash on hand, will redeem in full the existing 6.250% senior notes due 2028.
- Interest payable semi-annually Apr 15 and Oct 15, first payment Apr 15, 2027; change of control repurchase at 101%.
- Notes secured by substantially all assets of issuer and stock of certain Burford subsidiaries; indenture imposes customary restrictions.