21st Jul 2014 14:39
LONDON (Alliance News) - Burford Capital Ltd said Monday its wholly-owned indirect subsidiary Burford Capital PLC has launched an offer of 6.50% sterling bonds due in 2022.
Burford Capital Ltd said it will guarantee the bonds.
The bonds will pay a fixed rate of interest of 6.50% a year. Interest will be payable twice yearly on February 19 and August 19, in each year, with the first coupon payment being made on February 2015. The bonds will mature on August 19, 2022.
Burford said the bonds have a minimum initial subscription amount of GBP2,000 and are available in multiples of GBP100 thereafter.
"At any time during the life of the bonds, investors are permitted to sell the bonds, within market hours and in normal market conditions, on the open market through their stockbroker," Burford said.
Burford said the bonds are expected to be listed on the official list and admitted to trading on the London Stock Exchange. The bonds are also expected to be eligible for the London Stock Exchange's electronic Order Book for Retail Bonds.
Burford Capital Ltd shares were quoted flat at 119.50 pence Monday afternoon.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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