21st Jun 2023 15:20
Burford Capital Ltd - London-based global finance and asset manager, focusing on law - Plans private offering of USD400 million senior notes due in 2031 via its indirect, wholly-owned subsidiary Burford Capital Finance LLC. Says this is subject to market and other conditions. Intends to use the net proceeds for general corporate purposes, including the potential repayment or retirement of existing indebtedness.
On Tuesday last week Burford Capital said profit and revenue both multiplied in the first quarter of 2023, highlighting continued positive momentum within its portfolio. Pretax profit jumped to USD308.5 million in the three months that ended March 31, from USD76.5 million a year earlier. Revenue trebled to USD380.9 million from USD123.1 million, led by capital provision income surging to USD475.9 million from USD140.7 million.
Current stock price: 1,001.00 pence, up 0.5%
12-month change: up 38%
By Greg Rosenvinge, Alliance News reporter
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