The Law firm Ogier has provided Guernsey and Jersey legal advice to Burford Capital on the raising of $180 million through an issue of bonds listed on the Main Market of the London Stock Exchange by Burford Capital Finance LLC, its financing subsidiary.
Burford Capital is a leading global finance and investment 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 London Stock Exchange and it works with law firms and clients around the world from its principal offices in New York, London, Chicago and Singapore.
Christopher Bogart, Burford’s chief executive, said: “Demand for Burford’s first US dollar denominated bond was strong, requiring us to close the order book sooner than we had anticipated and cut back allocations. The level of subscription interest in our bond offerings underscores the attractions of the investment opportunities presented to Burford thanks to its leadership of the fast-growing commercial litigation finance market.”
“Adding US dollar debt – the first-ever USD issue on ORB – to our hitherto sterling dominated debt will serve to diversify our currency risk, better matching the multi denominational income profile of the Burford Group. We thank all our bondholders and shareholders for their continuing support of our global growth, and we look forward to capturing the significant investment potential before us.”
Partner Bryon Rees led the Ogier team in Guernsey, assisted by senior associate Michelle Watson Bunn and trainee solicitor Jessica Barnes. Ogier worked with lead counsel for Burford, Freshfields Bruckhaus Deringer LLP and Guernsey corporate services provider IAG. Jersey-based partner Raulin Amy assisted with Jersey law advice.
Bryon said: “We were delighted to support Burford in the successful raising of this capital. Burford has for a long time been a pioneer in this industry and continues to lead the way.”