TIDMBUR TIDMBUR2
RNS Number : 9115D
Burford Capital Limited
26 June 2023
This notice relates to the disclosure of information that
qualified or may have qualified as inside information within the
meaning of Article 7(1) of the Market Abuse Regulation (EU)
596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 (the "UK Market Abuse
Regulation" ).
SEE "IMPORTANT INFORMATION" BELOW.
26 June 2023
Burford Capital plc (the "Issuer")
GBP100,000,000 6.125 per cent. guaranteed bonds due 2024 (the
"Bonds")
ISIN: XS1391063424
Notice of Early Redemption of Bonds at the Option of the
Issuer
This notice is in respect of the Bonds which are constituted by
the trust deed, dated 26 April 2016 (as amended, supplemented or
otherwise modified to the date hereof, the "Trust Deed"), by and
among the Issuer, Burford Capital Limited, Burford Capital Finance
LLC and Burford Capital Global Finance LLC, as guarantors, and U.S.
Bank Trustees Limited, as trustee (the "Trustee"). Capitalised
terms used in this notice but not defined herein have the meanings
ascribed to them in the Trust Deed.
NOTICE IS HEREBY GIVEN in accordance with Condition 14 (Notices)
that, pursuant to Condition 8.3 (Redemption at the Option of the
Issuer), the Issuer intends to redeem the aggregate principal
amount of the Bonds that remain outstanding in full on 12 July 2023
(the "Repayment Date").
The redemption price payable in respect of the Bonds will be
calculated in accordance with Condition 8.3 (Redemption at the
Option of the Issuer), being the higher of (i) 100 per cent. of the
principal amount of the Bonds and (ii) the principal amount of the
Bonds multiplied by the price, as reported to the Issuer and the
Trustee by the Financial Adviser, at which the Gross Redemption
Yield on the Bonds on the Make-Whole Reference Date (being 7 July
2023) is equal to the Gross Redemption Yield (determined by
reference to the middle market price) at 11.00 a.m. (London time)
on the Make-Whole Reference Date of the Reference Bond (the 2.75
per cent. Treasury Stock due 2024) , plus 1.00 per cent., all as
determined by the Financial Adviser.
The Issuer has appointed Allia C&C (a brand name of City
& Continental Limited) of Cheyne House, Crown Court, 62-63
Cheapside, London EC2V 6AX as the Financial Adviser pursuant to
Condition 8.3 (Redemption at the Option of the Issuer).
On the Repayment Date, the Issuer shall also pay any accrued but
unpaid interest on the Bonds up to (but excluding) the Repayment
Date.
This notice is given by Burford Capital Limited ("Burford") on
behalf of Burford Capital plc and contains information that
qualified or may have qualified as inside information within the
meaning of Article 7(1) of the UK Market Abuse Regulation. For the
purposes of the UK Market Abuse Regulation and Article 2 of
Commission Implementing Regulation (EU) 2016/1055 as it forms part
of domestic law by virtue of the European Union (Withdrawal) Act
2018, this notice is made by the directors of Burford Capital plc,
namely Craig Arnott, Philip Braverman, Leslie Paster and Michael
Redman.
For further information, please contact:
Burford Capital Limited
For investor and analyst inquiries:
Robert Bailhache, Head of Investor Relations, +44 (0)20 3530
EMEA and Asia - email 2023
Jim Ballan, Head of Investor Relations, Americas
- email +1 (646) 793 9176
For press inquiries:
David Helfenbein, Vice President, Public Relations
- email +1 (212) 235 6824
Numis Securities Limited - NOMAD and Joint +44 (0)20 7260
Broker 1000
Giles Rolls
Charlie Farquhar
+44 (0)20 7029
Jefferies International Limited - Joint Broker 8000
Graham Davidson
Tony White
+44 (0)20 3207
Berenberg - Joint Broker 7800
Toby Flaux
James Thompson
Arnav Kapoor
About Burford Capital
Burford Capital is the leading global finance and asset
management firm focused on law. Its businesses include litigation
finance and risk management , asset recovery and a wide range of
legal finance and advisory activities. Burford is publicly traded
on the New York Stock Exchange (NYSE: BUR) and the London Stock
Exchange (LSE: BUR), and it works with companies and law firms
around the world from its offices in New York, London, Chicago,
Washington, DC, Singapore, Dubai, Sydney and Hong Kong.
For more information, please visit www.burfordcapital.com.
This announcement does not constitute an offer to sell or the
solicitation of an offer to buy any ordinary shares or other
securities of Burford.
This announcement does not constitute an offer of any Burford
private fund. Burford Capital Investment Management LLC, which acts
as the fund manager of all Burford private funds, is registered as
an investment adviser with the US Securities and Exchange
Commission. The information provided in this announcement is for
informational purposes only. Past performance is not indicative of
future results. The information contained in this announcement is
not, and should not be construed as, an offer to sell or the
solicitation of an offer to buy any securities (including, without
limitation, interests or shares in any of Burford private funds).
Any such offer or solicitation may be made only by means of a final
confidential private placement memorandum and other offering
documents.
Forward-looking statements
This announcement contains "forward-looking statements" within
the meaning of Section 21E of the US Securities Exchange Act of
1934, as amended, regarding assumptions, expectations, projections,
intentions and beliefs about future events. These statements are
intended as "forward-looking statements". In some cases,
predictive, future-tense or forward-looking words such as "aim",
"anticipate", "believe", "continue", "could", "estimate", "expect",
"forecast", "guidance", "intend", "may", "plan", "potential",
"predict", "projected", "should" or "will" or the negative of such
terms or other comparable terminology are intended to identify
forward-looking statements, but are not the exclusive means of
identifying such statements. In addition, Burford and its
representatives may from time to time make other oral or written
statements which are forward-looking statements, including in its
periodic reports that Burford files with, or furnishes to, the US
Securities and Exchange Commission , other information made
available to Burford's security holders and other written
materials. By their nature, forward-looking statements involve
known and unknown risks, uncertainties and other factors because
they relate to events and depend on circumstances that may or may
not occur in the future. Burford cautions you that forward-looking
statements are not guarantees of future performance and are based
on numerous assumptions , expectations, projections, intentions and
beliefs and that Burford's actual results of operations, including
its financial position and liquidity, and the development of the
industry in which it operates, may differ materially from (and be
more negative than) those made in, or suggested by, the
forward-looking statements contained in this announcement.
Significant factors that may cause actual results to differ from
those Burford expects include, among others, those discussed under
"Risk Factors" in Burford's annual report on Form 20-F for the year
ended December 31, 2022 filed with the US Securities and Exchange
Commission on May 16, 2023 and other reports or documents that
Burford files with, or furnishes to, the US Securities and Exchange
Commission from time to time . In addition, even if Burford's
results of operations, including its financial position and
liquidity, and the development of the industry in which it operates
are consistent with the forward-looking statements contained in
this announcement, those results of operations or developments may
not be indicative of results of operations or developments in
subsequent periods.
Except as required by law, Burford undertakes no obligation to
update or revise the forward-looking statements contained in this
announcement, whether as a result of new information, future events
or otherwise.
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END
STRSEEFSMEDSEDM
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June 26, 2023 09:07 ET (13:07 GMT)
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