Burford Capital driving by with $200 million tap of 9¼% notes due 2031; initial talk 103 area

By Paul A. Harris

Portland, Ore., Jan. 16 – Burford Capital Global Finance LLC plans to price a $200 million add-on to its 9¼% senior notes due July 1, 2031 (Ba2/BB-) in a Tuesday drive-by, according to market sources.

An investor call is schedule to get underway at noon ET Tuesday.

Initial price talk is in the 103 area, a trader said.

The Rule 144A and Regulation S notes become subject to an initial call on July 1, 2026 at 104.625, the same as the original notes.

Jefferies is the left bookrunner. BofA Securities and Barclays are the joint bookrunners. B. Riley and Wedbush are the co-managers.

The London-based global finance and asset management firm plans to use the proceeds for general corporate purposes.

The original $400 million issue priced in June 2023.

The add-on notes are set to immediately become fungible with the original notes.

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