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Burford raises £175m via bond issue

By BFN News | 02:31 PM | Friday 19 May, 2017

Burford Capital has announced that it has today raised £175m (approximately $225m) through an oversubscribed issue of bonds. The bonds will pay interest at an annual rate of 5% and mature on 1 December 2026. Christopher Bogart, Burford's Chief Executive Officer, commented: "We are delighted with the strong response to this bond issue, which has well exceeded both our previous issues and continues to provide us with a flexible and immediately accessible capital base to address the attractive opportunities we see. "Law firms and corporate clients are coming to us with needs which have evolved far beyond the single-case financing model on which this industry is founded - although that remains a core area of our business. This additional long-term capital will enable us to continue to meet the global demand for Burford's services and further solidifies our position as the industry leader with the industry's lowest cost of capital. "We appreciate the ongoing support of our investors through our debt and equity, which together enable the further expansion of our business. We look forward to demonstrating Burford's further potential." At 2:31pm: (LON:BUR) Burford Capital Ltd share price was +21.75p at 867.25p Story provided by

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