The Guernsey incorporated Burford Capital Limited(Burford Capital) has raised US$150 million through an issue of retail bonds on the London Stock Exchange (LSE) by a subsidiary, Burford Capital PLC.
Payments in respect of the bonds are guaranteed by Burford Capital which was first listed on the LSE's Alternative Investment Market (AIM) in October 2009 and now has a market capitalisation of£244 million.
The firm is the world's largest provider of investment capital and risk solutions for litigation.
Christopher Bogart, Chief Executive at Burford Capital, commented: "This latest capital brings Burford's asset base above a half-billion dollars. We are very pleased with the market reception to our bond issue and we now look forward to committing this additional capital, and continuing to work with our existing clients while also continuing to broaden the reach of Burford's corporate financing solutions."
Lead legal counsel on the transaction was Freshfields Bruckhaus Deringer LLP and Guernsey legal advice was provided by Ogier Legal. The team in Guernsey was led by William Simpson, Partner and Bryon Rees, Managing Associate and assisted by Alexandria Gaudion, Associate.
Mr Simpson said: "Burford are well known and highly regarded for their expertise in litigation funding. We were delighted to be asked to assist with this project and to continue to represent Burford as its lead offshore counsel."
As the world's largest provider of investment capital and risk solutions for litigation, Burford provides a variety of corporate financing to litigation and arbitration matters, enabling commercial clients to unlock the asset value of their pending claims and raise capital to pursue them. It operates in the United States, the United Kingdom and in the international arbitration market, and considers matters from clients anywhere in the world.
For more information about Guernsey's finance industry please visit www.guernseyfinance.com.
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