Burford Capital Plc: Launch of 5% Guaranteed Sterling Bonds Due 2026
12 May 2017 - 4:01PM
Business Wire
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, Jersey, the
Bailiwick of Guernsey and the Isle of Man in accordance with the
applicable regulatory requirements.
SEE “IMPORTANT INFORMATION” BELOW
Burford Capital PLC, a wholly owned indirect subsidiary of
Burford Capital Limited ("Burford"), announces that it has
today launched an offer of 5% sterling bonds due 1 December
2026 (the "Bonds") which will be guaranteed by Burford.
The Bonds will pay a fixed rate of interest of 5% 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 26 May 2017. The Lead Manager retains the right to
close the offer early, in conjunction with Burford.
About Burford Capital PLC
Burford Capital PLC is a special purpose financing vehicle
created to issue Burford's 2014 and 2016 retail bonds and an
indirect wholly-owned subsidiary of Burford Capital Limited. It
will be the issuer of the bonds now being offered.
About Burford Capital
Burford will be the guarantor of the bonds now being offered. It
is a leading global finance 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 and Chicago.
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 and £100m
through issues of bonds listed on the London Stock Exchange's Order
Book for Retail Bonds in 2014 and 2016 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 11 May 2017 (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 Burford Capital
plc 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 Burford Capital plc on the Regulatory News
Service operated by the London Stock Exchange on or about 11 May
2017 and 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170511006203/en/
For further information, please contact:Peel Hunt
LLPAdrian BellMark GlowreyHenrietta Podd+44 (0)20 3597
8677orNeustria Partners - Financial Communications for
Burford CapitalRobert Bailhache [email]Charles Gorman [email]Nick
Henderson [email]+44 (0)20 3021 2580
Burford Capital (LSE:BUR)
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