BURFORD CAPITAL ANNOUNCES PRICING AND UPSIZING OF PRIVATE OFFERING OF SENIOR NOTES

Rhea-AI Summary

Burford Capital (NYSE:BUR) priced and upsized a private offering of $500 million aggregate principal amount of 8.500% senior notes due 2034, issued by Burford Capital Global Finance LLC and guaranteed on a senior unsecured basis by Burford Capital. The offering was upsized from a previously announced amount and is expected to close on January 15, 2026, subject to customary closing conditions.

Burford intends to use net proceeds to redeem its 5.000% bonds due 2026 as soon as practicable following closing, with any remainder for general corporate purposes, which may include repayment of other indebtedness. The Securities are being offered only to qualified institutional or non‑US investors under Rule 144A and Regulation S.

Positive

• $500 million raised via senior notes due 2034
• Notes priced at a clear coupon of 8.500%
• Proceeds intended to redeem 5.000% bonds due 2026
• Expected closing date: January 15, 2026

Negative

• New notes carry a higher coupon (8.500%) than the 2026 bonds (5.000%)
• Private placement restricted to non‑US and qualified institutional buyers only

News Market Reaction

-0.93%

1 alert

-0.93% News Effect

On the day this news was published, BUR declined 0.93%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Senior notes size: $500 million Coupon rate: 8.500% Maturity year: 2034 +5 more

8 metrics

Senior notes size $500 million Aggregate principal amount of 8.500% senior notes due 2034

Coupon rate 8.500% Interest rate on new senior notes due 2034

Maturity year 2034 Maturity of newly issued senior notes

Redemption target coupon 5.000% Coupon on bonds due 2026 targeted for redemption

2026 Bonds maturity 2026 Maturity of 5.000% bonds planned for redemption

Securities Act year 1933 US Securities Act of 1933 referenced for registration status

Rule reference Rule 144A Exemption used for offers to Qualified Institutional Buyers

Investment Company Act year 1940 US Investment Company Act of 1940 cited for Qualified Purchasers

Market Reality Check

Price: $9.13 Vol: Volume 1,176,573 is below...

normal vol

$9.13 Last Close

Volume Volume 1,176,573 is below the 20-day average of 1,681,328, suggesting a moderate reaction to the notes offering news. normal

Technical Shares at $9.64 are trading below the 200-day MA of $11.99 and sit 38.72% under the 52-week high, 17.7% above the 52-week low.

Peers on Argus

BUR gained 2.12% ahead of the new $500 million notes, while key asset-management...

BUR gained 2.12% ahead of the new $500 million notes, while key asset-management peers showed smaller moves (e.g., APAM +0.18%, HTGC +0.81%, BBUC +3.64%), indicating a largely stock-specific reaction without broad sector momentum flags.

Historical Context

5 past events · Latest: Nov 07 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Nov 07	Dividend announcement	Neutral	-1.1%	Set FX conversion rate and payment details for interim dividend.
Nov 05	Earnings results	Positive	+0.0%	Reported 3Q25 and YTD25 financials and growth commentary.
Oct 23	Earnings date notice	Neutral	-0.5%	Announced timing and access details for upcoming 3Q25 results.
Oct 22	Litigation update	Neutral	-0.4%	Provided status and timeline update on YPF litigation and appeals.
Oct 16	Strategic publication	Neutral	-3.6%	Released Burford Quarterly discussing legal finance amid global disputes.

Pattern Detected

Recent news has often seen flat-to-modest moves, with one prior debt offering tagged event showing a positive reaction.

Recent Company History

In the last few months, Burford’s news flow featured dividends, earnings, and legal updates. A Nov 7, 2025 interim dividend declaration produced a small -1.1% move. Earnings updates on Nov 5, 2025 and related call details a day earlier saw minimal price change. YPF litigation updates on Oct 22–23, 2025 led to slight declines, and a strategic legal finance publication on Oct 16, 2025 coincided with a larger -3.63% move. Against this backdrop, today’s senior notes refinancing continues the trend of balance-sheet-focused announcements.

Market Pulse Summary

This announcement details a private offering of $500 million in 8.500% senior notes due 2034, primar...

Analysis

This announcement details a private offering of $500 million in 8.500% senior notes due 2034, primarily to redeem 5.000% bonds due 2026 and for general corporate purposes. It continues Burford’s recent pattern of extending maturities and refining its debt stack through targeted note issues. Investors may focus on the trade-off between higher coupon costs and longer-dated funding, alongside existing legal and earnings developments, when evaluating how this refinancing shapes Burford’s long-term capital structure.

Key Terms

senior notes, senior unsecured, securities act, rule 144a, +4 more

8 terms

senior notes financial

"announces the pricing of its private offering of $500 million aggregate principal amount of 8.500% senior notes due 2034"

Senior notes are a type of loan that a company borrows from investors, promising to pay it back with interest. They are called "senior" because in case the company faces financial trouble, these lenders are paid back before others. This makes senior notes safer for investors compared to other types of loans or bonds.

senior unsecured financial

"The Notes will be guaranteed on a senior unsecured basis by Burford Capital"

Senior unsecured is a type of loan or bond that has priority over other unsecured obligations for repayment if a company runs into financial trouble, but it is not backed by specific assets as collateral. Think of it as being near the front of a line to get paid, but without a pledged item to seize if the borrower defaults; that higher repayment priority typically makes it less risky than subordinated debt but more risky than secured debt, which influences the interest rate investors demand.

securities act regulatory

"not been, and will not be, registered under the US Securities Act of 1933"

A securities act is a law that governs the offering, sale and disclosure of stocks, bonds and other investment products to the public. It requires companies to provide clear, truthful information—like a product label for an investment—so buyers can understand risks and value before they invest. For investors, these rules reduce fraud, promote transparency, and help ensure fair access to market information.

rule 144a regulatory

"offered only to persons reasonably believed to be "Qualified Institutional Buyers" within the meaning of Rule 144A under the Securities Act"

Rule 144A is a regulation that makes it easier for companies to sell private bonds to large investors without going through all the usual rules that apply to public sales. It matters because it helps companies raise money more quickly and privately, often attracting big investors looking for special deals.

regulation s regulatory

"or non-US persons outside the United States pursuant to Regulation S under the Securities Act"

Regulation S is a set of rules that allows companies to sell securities (like shares or bonds) to investors outside the United States without having to follow all U.S. securities laws. It matters because it makes it easier for companies to raise money from international investors while still complying with U.S. regulations.

qualified institutional buyers financial

"offered only to persons reasonably believed to be "Qualified Institutional Buyers" within the meaning of Rule 144A"

Qualified institutional buyers are large organizations, like big investment firms or banks, that are allowed to buy certain types of investment opportunities not available to everyday investors. Their size and experience matter because it ensures they understand and can handle complex financial deals, making markets more efficient and secure.

qualified purchasers financial

"in each case, who are "Qualified Purchasers" as defined in Section (2)(a)(51)(A)"

A qualified purchaser is an investor or institution that meets a high financial threshold—typically owning or controlling several million dollars in investments—so regulators treat them as very experienced and able to bear loss. Because they are seen as financially sophisticated, qualified purchasers can access private funds and investment deals that are closed to the general public, which can offer higher return potential but come with fewer regulatory protections—think of it as a VIP pass that opens riskier, less-regulated opportunities.

investment company act regulatory

"Section (2)(a)(51)(A) under the US Investment Company Act of 1940"

The Investment Company Act is a law that sets rules for businesses whose main activity is managing and selling pooled money, such as mutual funds and other investment funds. It matters to investors because it requires clear reporting, limits managers from putting their own interests ahead of clients, and mandates safekeeping and oversight of assets—similar to safety inspections and traffic rules that help keep shared vehicles reliable and trustworthy.

AI-generated analysis. Not financial advice.

NEW YORK, Jan. 13, 2026 /PRNewswire/ -- Burford Capital Limited ("Burford" or "Burford Capital"), the leading global finance and asset management firm focused on law, today announces the pricing of its private offering of $500 million aggregate principal amount of 8.500% senior notes due 2034 (the "Notes") by its indirect, wholly owned subsidiary, Burford Capital Global Finance LLC, which represents an increase from the previously announced offering size. The Notes will be guaranteed on a senior unsecured basis by Burford Capital (such guarantee, together with the Notes, the "Securities"). The offering is expected to close on January 15, 2026, subject to customary closing conditions.

Burford Capital intends to use the net proceeds from the offering of the Securities to redeem as soon as practicable following the closing of the offering the 5.000% bonds due 2026 of Burford Capital PLC (the "2026 Bonds") and the remainder for general corporate purposes, which may include the repayment or retirement of other existing indebtedness. This release does not constitute a notice of redemption with respect to, or an offer to purchase, the 2026 Bonds or any other indebtedness.

The Securities have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act"), or the laws of any other jurisdiction and may not be offered or sold within the United States or to, or for the account or benefit of, US persons absent registration or an applicable exemption from registration under the Securities Act or any applicable state securities laws. The Securities will be offered only to persons reasonably believed to be "Qualified Institutional Buyers" within the meaning of Rule 144A under the Securities Act or non-US persons outside the United States pursuant to Regulation S under the Securities Act, in each case, who are "Qualified Purchasers" as defined in Section (2)(a)(51)(A) under the US Investment Company Act of 1940, as amended.

For further information, please contact:

Burford Capital Limited
For investor and analyst inquiries:
Americas: Josh Wood, Head of Investor Relations - email	+1 212 516 5824
EMEA & Asia: Rob Bailhache, Head of EMEA & Asia Investor Relations - email	+44 (0)20 3530 2023
For press inquiries:
David Helfenbein, Senior Vice President, Public Relations - email	+1 646 504 7074

About Burford Capital
Burford Capital is the leading global finance and asset management firm focused on law. Its businesses include litigation finance and risk management, asset recovery and a wide range of legal finance and advisory activities. Burford is publicly traded on the New York Stock Exchange (NYSE: BUR) and the London Stock Exchange (LSE: BUR) and works with companies and law firms around the world from its global network of offices.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities of Burford.

This announcement does not constitute an offer of any Burford private fund. Burford Capital Investment Management LLC, which acts as the fund manager of all Burford private funds, is registered as an investment adviser with the US Securities and Exchange Commission. The information provided in this announcement is for informational purposes only. Past performance is not indicative of future results. The information contained in this announcement is not, and should not be construed as, an offer to sell or the solicitation of an offer to buy any securities (including, without limitation, interests or shares in any of Burford private funds). Any such offer or solicitation may be made only by means of a final confidential private placement memorandum and other offering documents.

Prohibition of sales to retail investors in the European Economic Area. The Securities are not intended to be offered, sold or otherwise made available to, and should not be offered, sold or otherwise made available to, any retail investor in the European Economic Area (the "EEA"). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, "MiFID II"); (ii) a customer within the meaning of Directive (EU) 2016/97 (as amended, the "Insurance Distribution Directive"), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a "qualified investor" as defined in Regulation (EU) No. 2017/1129 (as amended, the "Prospectus Regulation"). No key information document required by Regulation (EU) 1286/2014 (as amended, the "PRIIPs Regulation") for offering or selling the Securities or otherwise making them available to retail investors in the EEA has been prepared and, therefore, offering or selling the Securities or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation.

Prohibition of sales to retail investors in the United Kingdom. The Securities are not intended to be offered, sold or otherwise made available to, and should not be offered, sold or otherwise made available to, any retail investor in the United Kingdom (the "UK"). For these purposes, (a) a retail investor means a person who is one (or more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No. 2017/565 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended, the "EUWA"); (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act 2000 (as amended, the "FSMA") and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA; or (iii) not a qualified investor as defined in Article 2 of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the EUWA (as amended or superseded, the "UK Prospectus Regulation"); and (b) the expression "offer" includes the communication in any form and by any means of sufficient information on the terms of the offer and the Notes to be offered so as to enable an investor to decide to purchase or subscribe for the Notes. Consequently, no key information document required by Regulation (EU) No. 1286/2014 as it forms part of domestic law by virtue of the EUWA (as amended, the "UK PRIIPs Regulation") for offering or selling the Securities or otherwise making them available to retail investors in the UK has been prepared and, therefore, offering or selling the Securities or otherwise making them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation.

IN MEMBER STATES OF THE EEA, THIS ANNOUNCEMENT IS DIRECTED ONLY AT PERSONS WHO ARE "QUALIFIED INVESTORS" WITHIN THE MEANING OF THE PROSPECTUS REGULATION IN SUCH MEMBER STATE AND SUCH OTHER PERSONS AS THIS ANNOUNCEMENT MAY BE ADDRESSED ON LEGAL GROUNDS, AND NO PERSON THAT IS NOT A RELEVANT PERSON OR QUALIFIED INVESTOR MAY ACT OR RELY ON THIS ANNOUNCEMENT OR ANY OF ITS CONTENTS. IN THE UNITED KINGDOM, THIS ANNOUNCEMENT IS DIRECTED ONLY AT PERSONS WHO ARE "QUALIFIED INVESTORS" WITHIN THE MEANING OF THE UK PROSPECTUS REGULATION AND SUCH OTHER PERSONS AS THIS ANNOUNCEMENT MAY BE ADDRESSED ON LEGAL GROUNDS, AND NO PERSON THAT IS NOT A RELEVANT PERSON OR QUALIFIED INVESTOR MAY ACT OR RELY ON THIS ANNOUNCEMENT OR ANY OF ITS CONTENTS.

Forward-looking statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the US Securities Exchange Act of 1934, as amended, that are intended to be covered by the safe harbor provided for under these sections. In some cases, words such as "aim", "anticipate", "believe", "continue", "could", "estimate", "expect", "forecast", "guidance", "intend", "may", "plan", "potential", "predict", "projected", "should" or "will", or the negative of such terms or other comparable terminology, are intended to identify forward-looking statements. Although Burford believes that the assumptions, expectations, projections, intentions and beliefs about future results and events reflected in forward-looking statements have a reasonable basis and are expressed in good faith, forward-looking statements involve known and unknown risks, uncertainties and other factors, which could cause Burford's actual results and events to differ materially from (and be more negative than) future results and events expressed, projected or implied by these forward-looking statements. Factors that might cause future results and events to differ include, among others, those discussed in the "Risk Factors" section of Burford's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the US Securities and Exchange Commission on March 3, 2025. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements contained in the periodic and current reports that Burford files with or furnishes to the US Securities and Exchange Commission. Many of these factors are beyond Burford's ability to control or predict, and new factors emerge from time to time.
Furthermore, Burford cannot assess the impact of each such factor on its business or the extent to which any factor or combination of factors may cause actual results and events to be materially different from those contained in any forward-looking statement. Given these uncertainties, readers are cautioned not to place undue reliance on Burford's forward-looking statements.

All subsequent written and oral forward-looking statements attributable to Burford or to persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements speak only as of the date of this press release and, except as required by applicable law, Burford undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

View original content:https://www.prnewswire.com/news-releases/burford-capital-announces-pricing-and-upsizing-of-private-offering-of-senior-notes-302660281.html

SOURCE Burford Capital Limited

FAQ

What did Burford Capital (BUR) announce on January 13, 2026?

Burford priced an upsized private offering of $500 million 8.500% senior notes due 2034, expected to close on January 15, 2026.

How will Burford (BUR) use proceeds from the $500M senior notes offering?

Burford intends to redeem its 5.000% bonds due 2026 and use any remainder for general corporate purposes.

What is the interest rate and maturity on Burford's new notes (BUR)?

The notes carry a 8.500% coupon and mature in 2034.

When is the expected closing date for Burford Capital's (BUR) notes offering?

The offering is expected to close on January 15, 2026, subject to customary closing conditions.

Who can buy Burford Capital's (BUR) private offering of senior notes?

The Securities are offered only to Qualified Institutional Buyers under Rule 144A or non‑US persons under Regulation S who are qualified purchasers.

Does Burford's (BUR) new debt replace existing 2026 bonds?

Burford intends to redeem the 5.000% bonds due 2026 as soon as practicable after the offering closes, using the net proceeds.