Burford plans $300 million secured offering to refinance maturing debt

Burford ($BUR) Capital announced a proposed private offering of $300 million in senior secured notes due in 2029. Together with available cash, the proceeds are intended to redeem $400 million of existing 6.25% notes due in 2028. The transaction would replace part of that debt with a later maturity while using cash for the balance.

The new notes’ coupon and final pricing were not fixed in the launch announcement. Security would cover specified issuer assets and subsidiary equity interests, rather than every asset across the wider Burford group. Completion depends on the financing process and market conditions. The proposal is a capital-structure transaction, not a new litigation recovery, and does not by itself establish lower financing costs.

Sources:

• Burford — senior secured note offering