Burford announces final results of tender offer for 2022 notes

Chicago, June 23 – Burford Capital Ltd. announced the results of a capped tender offer for Burford Capital plc’s £86,157,000 6½% guaranteed bonds due 2022 (ISIN: XS1088905093), according to a notice.

The issuer received tenders for and will accept £23,865,500 in principal amount of the notes.

The tender offer was being conducted by a modified Dutch auction procedure.

The purchase price was determined to be 105. It was announced that it would be between 102 and 105 and will be the lowest amount that will allow the issuer to purchase all of the bonds up to the final acceptance amount.

Interest will also be paid to the settlement date.

Burford had said that it would accept up to £40 million of the bonds for purchase, an amount that could change.

The expiration time was 11 a.m. ET on June 22.

Settlement is planned for June 28.

After settlement, £62,291,500 of the bonds will remain outstanding.

The company aims to proactively manage its debt capital structure through the offer.

Joint dealer managers for the offer are City & Continental Ltd., trading as Allia C&C, (+44 20 3039 3450) and Peel Hunt LLP (+44 20 7418 8900).

Lucid Issuer Services Ltd. is the tender agent (+44 20 7704 0880).

Burford Capital is a direct wholly owned subsidiary of Burford Capital Holdings (UK) Ltd. and an indirect wholly owned subsidiary of Burford Capital Ltd.

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