Notice of Early Redemption of Bonds Due 2026

Rhea-AI Summary

Burford Capital (BUR) has given notice that it intends to redeem in full the £175,000,000 5.000% guaranteed bonds due 2026 (ISIN XS1614096425) on January 30, 2026 under Condition 8.3 (redemption at issuer option).

The redemption price will be the higher of 100% of principal or a make-whole price based on the Gross Redemption Yield of 1.5% Treasury Stock due 2026 on the Make-Whole Reference Date (January 27, 2026) plus 1.00%, as reported by the appointed Financial Adviser, Allia C&C. Accrued but unpaid interest to (but excluding) the Repayment Date will also be paid.

Positive

• Issuer intends to redeem the full £175,000,000 principal on Jan 30, 2026
• Redemption price is floored at 100% of principal, protecting bondholder principal

Negative

• Issuer must pay full principal and any accrued interest on Jan 30, 2026
• Make-whole calculation may raise cash required if market yields indicate a premium on Jan 27, 2026

Key Figures

U.S.-listed ETF AUM: US $7.5 trillion ETF CAGR: 15% Profitable companies: 9 companies +1 more

4 metrics

U.S.-listed ETF AUM US $7.5 trillion Total assets under management as of early 2024

ETF CAGR 15% Compound annual growth rate since 2010 for U.S.-listed ETFs

Profitable companies 9 companies Number of profitable companies co-founded and operated over two years

Portfolio investments nearly 200 companies Number of companies Anthony Pompliano has invested in

Market Reality Check

Price: $9.48 Vol: Volume 1,204,520 vs 20-da...

normal vol

$9.48 Last Close

Volume Volume 1,204,520 vs 20-day average 1,562,481, indicating no unusual trading activity. normal

Technical Shares trade below the 200-day MA of 11.95 at a pre-news price of 9.79.

Peers on Argus

BUR gained 2.51% while key asset-management peers mostly showed smaller positive...

BUR gained 2.51% while key asset-management peers mostly showed smaller positive moves (e.g., APAM +1.74%, GCMG +1.66%, HTGC +1.56%), with at least one decliner (ADX -1.03%). No peers appeared in the momentum scanner, suggesting a stock-specific move rather than a broad sector rotation.

Historical Context

5 past events · Latest: Jan 13 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 13	Debt offering pricing	Neutral	-0.9%	Priced and upsized $500M 8.500% senior notes due 2034.
Jan 12	Debt offering launch	Neutral	+2.1%	Announced planned $450M private offering of senior notes due 2034.
Nov 07	Dividend details	Positive	-1.1%	Set FX rate and confirmed 6.25 US cent interim dividend per share.
Nov 05	Earnings results	Positive	+0.0%	Reported 3Q25 and YTD25 results with record realizations and 61 assets.
Oct 23	Earnings call notice	Neutral	-0.5%	Announced timing and access details for upcoming 3Q25 results and call.

Pattern Detected

Recent news spans debt financing, dividends, and earnings, with mixed short-term price reactions and several instances where positive or shareholder-friendly updates did not produce a clear positive move.

Recent Company History

Over the last few months, Burford reported several notable events. On Jan 12–13, 2026, it launched and then upsized a private offering of senior notes due 2034, with proceeds earmarked to redeem its 5.000% bonds due 2026. In Nov 2025, it confirmed a 6.25 US cent interim dividend per share and later released 3Q25 and year-to-date financial results, highlighting record rolling three-year realizations and 61 assets generating proceeds. Another release in Oct 2025 set expectations for the 3Q25 results and call logistics.

Market Pulse Summary

This announcement focuses on accessing the rapidly expanding U.S. ETF space, which reportedly has AU...

Analysis

This announcement focuses on accessing the rapidly expanding U.S. ETF space, which reportedly has AUM above $7.5 trillion and a 15% CAGR since 2010. It emphasizes leveraging digital-asset ETP experience and media reach to develop new ETF products. Against Burford’s recent backdrop of refinancing 2026 bonds, paying a 6.25 US cent interim dividend, and reporting record realizations, investors may watch how future disclosures reflect execution on growth initiatives and capital structure management.

Key Terms

exchange-traded fund (ETF), exchange-traded products ("ETPs"), assets under management ("AUM"), compound annual growth rate ("CAGR")

4 terms

exchange-traded fund (ETF) financial

"fast-growing U.S. exchange-traded fund (ETF) market."

An exchange-traded fund (ETF) is a collection of different investments, like stocks or bonds, that can be bought and sold easily on a stock exchange, similar to how shares are traded. It allows investors to diversify their holdings with a single purchase, making it a flexible and convenient way to invest in a broad range of assets without buying each one individually.

exchange-traded products ("ETPs") financial

"issued a range of exchange-traded products ("ETPs") across European markets."

Exchange-traded products (ETPs) are investment funds or securities that trade on stock exchanges like individual shares and track an asset, index, or strategy — for example a basket of stocks, commodities, or bonds. They let investors buy a ready-made bundle of assets in one trade, similar to picking a pre-mixed grocery pack instead of buying every ingredient separately, and matter because they offer easy, low-cost access to diversified exposures and specific market ideas.

assets under management ("AUM") financial

"the total assets under management ("AUM") for U.S.-listed ETFs"

Assets under management (AUM) is the total market value of investments that a fund, asset manager, or financial adviser oversees on behalf of clients. Investors pay attention to AUM because it signals the size and commercial strength of a manager—similar to how a bigger store suggests more customers—and influences revenue potential from fees, the manager’s resources, and sometimes the ability to grow or change investment strategies.

compound annual growth rate ("CAGR") financial

"growing at an impressive compound annual growth rate ("CAGR") of approximately 15%"

A compound annual growth rate (CAGR) is the single annual percentage that describes how an investment or financial metric would have grown each year to move from a starting value to an ending value over a multi‑year period, smoothing out ups and downs. Think of it as the steady speed a car would need to travel each year to cover the same total distance. Investors use it to compare performance, set expectations, and judge whether returns or sales trends are improving consistently.

AI-generated analysis. Not financial advice.

This notice 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, as amended (the "UK Market Abuse Regulation").

SEE "IMPORTANT INFORMATION" BELOW.

NEW YORK, Jan. 15, 2026 /PRNewswire/ --

Burford Capital plc (the "Issuer")
£175,000,000 5.000 per cent. guaranteed bonds due 2026 (the "Bonds")
ISIN: XS1614096425

Notice of Early Redemption of Bonds at the Option of the Issuer

This notice is in respect of the Bonds which are constituted by the trust deed, dated 1 June 2017 (as amended, supplemented or otherwise modified to the date hereof, the "Trust Deed"), by and among the Issuer, Burford Capital Limited, Burford Capital Finance LLC and Burford Capital Global Finance LLC, as guarantors, and U.S. Bank Trustees Limited, as trustee (the "Trustee"). Capitalised terms used in this notice but not defined herein have the meanings ascribed to them in the Trust Deed.

NOTICE IS HEREBY GIVEN in accordance with Condition 14 (Notices) that, pursuant to Condition 8.3 (Redemption at the Option of the Issuer), the Issuer intends to redeem the aggregate principal amount of the Bonds that remain outstanding in full on January 30, 2026 (the "Repayment Date").

The redemption price payable in respect of the Bonds will be calculated in accordance with Condition 8.3 (Redemption at the Option of the Issuer), being the higher of (i) 100 per cent. of the principal amount of the Bonds and (ii) the principal amount of the Bonds multiplied by the price, as reported to the Issuer and the Trustee by the Financial Adviser, at which the Gross Redemption Yield on the Bonds on the Make-Whole Reference Date (being January 27, 2026) is equal to the Gross Redemption Yield (determined by reference to the middle market price) at 11.00 a.m. (London time) on the Make-Whole Reference Date of the Reference Bond (the 1.5 per cent. Treasury Stock due 2026), plus 1.00 per cent., all as determined by the Financial Adviser.

The Issuer, after consultation with the Trustee, has appointed Allia C&C (a brand name of City & Continental Limited) of Cheyne House, Crown Court, 62-63 Cheapside, London EC2V 6AX as the Financial Adviser pursuant to Condition 8.3 (Redemption at the Option of the Issuer).

On the Repayment Date, the Issuer shall also pay any accrued but unpaid interest on the Bonds up to (but excluding) the Repayment Date.

This notice is given by Burford Capital Limited ("Burford") on behalf of Burford Capital plc and contains information that qualified or may have qualified as inside information within the meaning of Article 7(1) of the UK Market Abuse Regulation. For the purposes of the UK Market Abuse Regulation and Article 2 of Commission Implementing Regulation (EU) 2016/1055 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended, this notice is made by the directors of Burford Capital plc, namely Craig Arnott, Philip Braverman, Leslie Paster and Michael Redman.

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.

For more information, please visit www.burfordcapital.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any ordinary shares or other securities of Burford.

This press release 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 press release is for informational purposes only. Past performance is not indicative of future results. The information contained in this press release is not, and should not be construed as, an offer to sell or the solicitation of an offer to buy any securities (including 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.

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. 

FAQ

What is Burford Capital (BUR) redeeming on January 30, 2026?

Burford will redeem the £175,000,000 5.000% guaranteed bonds due 2026 (ISIN XS1614096425) in full on Jan 30, 2026.

How is the redemption price for BUR bonds due 2026 calculated?

The price is the higher of 100% of principal or a make-whole amount based on the Gross Redemption Yield of the 1.5% Treasury Stock due 2026 on Jan 27, 2026 plus 1.00%, as reported by the Financial Adviser.

Who is the Financial Adviser for Burford's bond redemption (BUR)?

Allia C&C (brand of City & Continental Limited) was appointed as Financial Adviser for the redemption.

Will Burford (BUR) pay accrued interest on the redeemed bonds?

Yes; the issuer will pay any accrued but unpaid interest up to (but excluding) the Repayment Date of Jan 30, 2026.

What is the Make-Whole Reference Date for BUR's bond redemption?

The Make-Whole Reference Date for the calculation is January 27, 2026.