Burford Capital Prices And Upsizes Private Offering Of $275M 9.250% Senior Notes Due 2031
Portfolio Pulse from Benzinga Newsdesk
Burford Capital has priced and upsized its private offering of senior notes to $275 million, with a 9.250% interest rate due in 2031. This is an increase from the initial offering size. The notes will be sold at a price above their principal amount, indicating a yield to worst of 8.251%. The offering is set to close on January 30, 2024.
January 17, 2024 | 6:11 am
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NEUTRAL IMPACT
Burford Capital's upsized private offering of $275M in senior notes at 9.250% due 2031 may attract investor interest due to the higher yield to worst of 8.251%.
The upsizing of the offering indicates confidence in investor demand for Burford Capital's debt, potentially reflecting positively on the company's creditworthiness. However, the high-interest rate may also suggest a higher risk profile, which could have a neutral impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100