Burford Capital closes USD 300 million debt issuance to refinance 2028 maturity

Burford Capital closed a USD 300 million debt issuance announced and priced on Sept. 14.

• Proceeds fund full redemption of the April 2028 USD 400 million debt maturity using USD 300 million new debt and USD 100 million cash.
• The transaction cuts total debt outstanding by USD 100 million, removes the nearest maturity 19 months early, and extends the next maturity to over three years.
• The order book ran about 10 times oversubscribed, driving a coupon cut from initial indications.
• The company flagged potential further deleveraging via opportunistic open-market debt repurchases following the 2028 notes redemption.