Source - Alliance News

Burford Capital Ltd - London-based global finance and asset manager, focusing on law - Plans private offering of $400 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 $308.5 million in the three months that ended March 31, from $76.5 million a year earlier. Revenue trebled to $380.9 million from $123.1 million, led by capital provision income surging to $475.9 million from $140.7 million.

Current stock price: 1,001.00 pence, up 0.5%

12-month change: up 38%

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