Burford Capital Successfully Completes $300 Million Debt Issuance

On September 17, 2026, Burford Capital Limited, a prominent global finance and asset management firm specializing in the legal sector, announced the successful closure of its $300 million debt issuance. This activity, which garnered substantial market interest, was processed in a remarkably efficient time frame of fewer than six hours, signifying a robust demand within the financial markets. The order book for this issuance was approximately ten times oversubscribed, and the coupon rates were significantly reduced from initial expectations, showcasing the confidence investors have in Burford's operational strength.

The new capital raised will be paired with an additional $100 million from Burford's existing cash reserves to fully retire its $400 million debt maturing in April 2028. This strategic financial maneuver not only diminishes Burford’s total outstanding debt by $100 million but also eliminates an imminent debt maturity almost two years ahead of schedule. Consequently, this positions the firm with ample time, over three years, before facing its next debt maturity.

Investor sentiment towards Burford has notably shifted, with greater emphasis being placed on the strong fundamentals that underpin its cash-generating core business. Despite credit spreads tightening in the current market environment, Burford remained prudent, choosing not to pursue a traditional long-term refinancing for its forthcoming 2028 maturity. Instead, this latest issuance aligns more effectively with Burford's publicly shared goal of gradually deleveraging the company. The smaller size necessitated for conventional long-term refinancing would not have aligned with these objectives.

The short-term nature of this latest issuance, combined with an appealing coupon rate, provides Burford with a financial foundation that complements its April 2030 debt maturity, paving the way for future, more conventional refinancing opportunities when the market conditions are right.

Looking ahead, Burford is committed to continued deleveraging, which is expected to follow the redemption of its 2028 notes. This may include opportunistic purchases of outstanding debt, contingent on market conditions, all while maintaining growth in its core business.

Christopher Bogart, Burford's CEO, commented on the recent developments stating that this marks the end of a turbulent phase. The decision in the YPF matter, which he characterized as surprising and disappointing, has not affected the strength of Burford's core business and its vast portfolio of assets essential for generating returns and servicing debt. He expressed confidence that with this distraction removed, the market would now be able to focus solely on the long-term value Burford has consistently delivered over its 17-year history, which has included producing high returns and returning nearly $4 billion to its balance sheet, with more expected in the future.

About Burford Capital

Burford Capital stands as a leader in global finance and asset management with a focus on the legal landscape. Its service offerings include litigation finance, risk management, asset recovery, and an array of legal financing and advisory activities. The company is publicly traded on both the New York Stock Exchange (NYSE: BUR) and the London Stock Exchange (LSE: BUR), with a global presence that collaborates with companies and law firms worldwide.

For further details, visit Burford Capital's website. Note: This announcement does not constitute an offer to sell or solicit any ordinary shares or other securities of Burford, nor does it represent an offering of any of Burford's private funds. Any investments should be considered only via the formal private placement documents.

Forward-Looking Statements

In accordance with the Securities Act of 1933 and the Securities Exchange Act of 1934, this press release may contain forward-looking statements that encompass expectations about future performance and events. While Burford believes these statements are based on reasonable assumptions, they involve known and unknown risks and uncertainties that may lead to actual results differing materially from those anticipated.