23 January 2018
The information contained herein is not for release, publication or distribution in or into the United States, Australia, Canada, Japan, South Africa, the Republic of Ireland or in any other jurisdiction where it is unlawful to distribute this document. The information contained herein may only be released, published or distributed in the United Kingdom, Switzerland, Jersey, the Bailiwick of Guernsey and the Isle of Man in accordance with the applicable regulatory requirements.
MiFID II retail investors, professional investors and ECPs target market - Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients (all distribution channels) and also retail clients (all distribution channels).
SEE "IMPORTANT INFORMATION" BELOW
BURFORD CAPITAL FINANCE LLC
LAUNCH OF 6.125% EURODOLLAR BONDS DUE 2025
Burford Capital Finance LLC (the "Issuer"), a wholly owned indirect subsidiary of Burford Capital Limited ("Burford"), announces that it has today launched an offer of 6.125% Eurodollar bonds due 12 August 2025 (the "Bonds") which will be guaranteed by both Burford and Burford Capital PLC.
The Bonds will pay a fixed rate of interest of 6.125% per annum. Interest will be payable semi-annually in arrear in equal instalments.
The Bonds have a minimum initial subscription amount of $2,000 and are available in multiples of $100 thereafter.
At any time during the life of the Bonds, investors are permitted to sell the Bonds (within market hours and in normal market conditions) on the open market through their stockbroker.
The Bonds are expected to be listed on the Official List of the UK Listing Authority and admitted to trading on the regulated market of the London Stock Exchange. The Bonds are also expected to be eligible for the London Stock Exchange's electronic Order Book for Retail Bonds.
Peel Hunt LLP is acting as Lead Manager on this issue.
The offer period is now open and is expected to close at 12pm (London time) on 6 February 2018. The Lead Manager retains the right to close the offer early, in conjunction with the Issuer.
For further information, please contact:
Peel Hunt LLP |
+44 (0)20 3597 8677 |
Henrietta Podd |
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Mark Glowrey |
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Neustria Partners - Financial Communications for Burford Capital |
+44 (0)20 3021 2580 |
Robert Bailhache [email] |
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Charles Gorman [email] |
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Nick Henderson [email] |
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About the Issuer
The Issuer is a special purpose financing vehicle created to issue US dollar denominated debt and an indirect wholly-owned subsidiary of Burford. It will be the issuer of the bonds now being offered.
About Burford Capital PLC
Burford Capital PLC is a special purpose financing vehicle created to issue 2014, 2016 and 2017 sterling retail-eligible bonds, and an indirect wholly-owned subsidiary of Burford. It is a guarantor of the bonds now being offered.
About Burford
Burford will be a guarantor of the bonds now being offered. It is a leading global finance and investment management firm focused on law. Burford's businesses include litigation finance and risk management, asset recovery, and a wide range of legal finance and advisory activities. Burford's equity and debt securities are publicly traded on the London Stock Exchange, and it works with law firms and clients around the world from its principal offices in New York, London, Chicago and Singapore.
For more information about Burford, visit www.burfordcapital.com
Notes to Editors:
ABOUT THE BONDS
1. The Bonds may not be suitable for all investors. Investors should ensure that they fully understand the risks and seek independent advice.
2. Investors should note that the market price of the Bonds can rise and fall during the life of the investment and that the price of Bonds could fall below the issue price of $100.
3. In the event that either Burford or any of its direct or indirect subsidiaries defaults, becomes insolvent or goes out of business, investors may lose some or all of their investment.
4. Burford Capital PLC has previously raised £90m, £100m and £175m through issues of bonds listed on the London Stock Exchange's Order Book for Retail Bonds in 2014, 2016 and 2017 respectively ("Existing Bonds").
5. The Bonds will rank pari passu with the Existing Bonds.
IMPORTANT INFORMATION
This announcement is an advertisement and is not a prospectus for the purposes of EU Directive 2003/71/EC, as amended (the "Directive"), and/or Part VI of the Financial Services and Markets Act 2000 (the "FSMA"). A prospectus dated 23 January 2018 (the "Prospectus") has been prepared and made available to the public as required by Part VI of the FSMA. Investors should not subscribe for any Bonds referred to in this announcement except on the basis of information in the Prospectus. Full information on the Issuer and the offer of the Bonds is only available on the basis of the combination of the Prospectus and this announcement which have been published by the Issuer on the Regulatory News Service operated by the London Stock Exchange and an announcement to be published on or about 23 January 2018 by the Issuer on the Regulatory News Service operated by the London Stock Exchange setting out the aggregate principal amount of the Bonds to be issued (the "Sizing Announcement"). Investors may obtain copies of the Prospectus and the Sizing Announcement (once published) on the website of the Regulatory News Service.
The restriction on financial promotions contained in section 21(1) of the Financial Services and Markets Act 2000 does not apply to this announcement by virtue of article 70(1A) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended.
The offering and the distribution of this announcement and other information in connection with any offer in certain jurisdictions may be restricted by law and persons into whose possession this announcement or any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
This announcement does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase. Any purchase of Bonds pursuant to any offer should only be made on the basis of the information contained in the Prospectus, available as described above.
The Bonds have not been and will not be registered under the US Securities Act of 1933, as amended, (the "Securities Act") and, subject to certain exceptions, may not be offered, sold or delivered within the United States or to, or for the account or benefit of U.S. persons. The Bonds are being offered and sold outside of the United States in reliance on Regulation S of the Securities Act, and are subject to certain U.S. tax law requirements. There will be no public offering in the United States.
