Burford Capital Limited Results of Tender Offer for Burford's 2022 Bonds (8185C)
23 June 2021 - 4:30PM
UK Regulatory
TIDMBUR TIDMBUR3
RNS Number : 8185C
Burford Capital Limited
23 June 2021
THIS ANNOUNCEMENT 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)
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23 June 2021
Burford Capital Limited announces final results of tender offer
for
Burford Capital PLC's GBP90,000,000 6.50 per cent. Guaranteed
Bonds due 2022
by Burford Capital Holdings (UK) Limited
Burford Capital Limited, the leading global finance and asset
management firm focused on law, today announces that Burford
Capital Holdings (UK) Limited (the Offeror), a direct wholly-owned
subsidiary, has published the final results of its invitation to
holders of Burford Capital PLC's (the Issuer) GBP90,000,000 6.50
per cent. Guaranteed Bonds due 2022, guaranteed by Burford Capital
Finance LLC, Burford Capital Limited and any additional guarantors
appointed from time to time pursuant to the terms of the Bonds
(each, a Guarantor and together, the Guarantors) and bearing ISIN:
XS1088905093 (the Bonds) to tender their Bonds for purchase by the
Offeror for cash (the Offer). Burford Capital PLC is a direct
wholly-owned subsidiary of Burford Capital Holdings (UK) Limited
and an indirect wholly-owned subsidiary of Burford Capital
Limited.
The Offer was announced on 27 May 2021 and was made on the terms
and subject to the conditions contained in the tender offer
memorandum dated 27 May 2021 (the Tender Offer Memorandum) prepared
by the Offeror.
Capitalised terms used in this announcement but not defined have
the meanings given to them in the Tender Offer Memorandum.
Participation as at the Expiration Deadline
The Expiration Deadline of the Offer was 4.00 p.m. (London time)
on 22 June 2021. As at the Expiration Deadline, the Offeror had
received valid Tender Instructions of GBP23,865,500 in aggregate
principal amount of the Bonds.
Results of the Offer
The Offeror now announces that the Final Acceptance Amount will
be GBP23,865,500 in aggregate principal amount of the Bonds.
The Purchase Price will be 105 per cent. of the principal amount
of the Bonds and the Offeror will also pay Accrued Interest
Payments as described in the Tender Offer Memorandum.
Accordingly, the Offeror will accept for purchase all Bonds that
are the subject of valid Tender Instructions.
The expected Settlement Date for the Offer is 28 June 2021.
Following settlement of the Offer, GBP62,291,500 in aggregate
principal amount of the Bonds will remain outstanding (as defined
in the Trust Deed).
Joint Dealer Managers
City & Continental Ltd trading
as Allia C&C Henrietta Podd +44 20 3039 3450
Peel Hunt LLP Stuart Galvin + 44 20 7418 8900
Tender Agent
Lucid Issuer Services Limited Owen Morris +44 20 7704 0880
Harry Ringrose
burford@lucid-is.com
Questions and requests for assistance in connection with the
Offer may be directed to the Dealer Managers, the contact details
for each of which are set out above.
This announcement is released by Burford Capital Limited on
behalf of the Offeror and contains information that qualified or
may have qualified as inside information for the purposes of
Article 7 of the UK Market Abuse Regulation, encompassing
information relating to the Offer described above. For the purposes
of the UK Market Abuse Regulation, this announcement is made by the
Directors of Burford Capital Holdings (UK) Limited, namely Craig
Arnott, Christopher Bogart, Ross D. Clark, Harry Matovu and Hugh
Steven Wilson.
LEI Number: 213800P7VN8SK65HQN02
DISCLAIMER This announcement must be read in conjunction with
the Tender Offer Memorandum. The distribution of this announcement
and the Tender Offer Memorandum in certain jurisdictions may be
restricted by law. Persons into whose possession this announcement
and/or the Tender Offer Memorandum comes are required by each of
the Offeror, the Issuer, the Guarantors, the Dealer Managers and
the Tender Agent to inform themselves about, and to observe, any
such restrictions.
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END
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