Burford Capital Limited (NYSE: BUR, LSE: BUR) has announced a planned private offering of $300 million in aggregate principal amount of senior secured notes due 2029, to be issued by its indirect wholly owned subsidiary, Burford Capital Global Finance LLC, subject to market and other conditions.

The notes will be guaranteed by Burford Capital and secured on a senior lien basis by substantially all of the assets of Burford Capital Global Finance LLC, as well as by the capital stock of certain subsidiaries, subject to certain exceptions.

Burford Capital intends to use the net proceeds from the offering, together with cash on hand, to redeem its existing 6.250% senior notes due 2028, which carry a total outstanding principal amount of $400 million. The company expects to issue a conditional notice of redemption for those notes, with a targeted redemption date of Sept. 24, 2026, contingent on the successful completion of the $300 million financing.

The securities will not be registered under the U.S. Securities Act of 1933 and will be offered only to Qualified Institutional Buyers under Rule 144A or to non-U.S. persons under Regulation S, in each case who are also Qualified Purchasers under the U.S. Investment Company Act of 1940. The securities are not available to retail investors in the European Economic Area or the United Kingdom.