Ogier's Guernsey specialists support Burford Capital on US$300 million debt issuance

Ogier has provided Guernsey legal advice to longstanding client Burford Capital Limited (Burford Capital) on its recent US$300 million senior secured notes issuance. 

The issuance was made by Burford Capital's indirect, wholly owned subsidiary, Burford Capital Global Finance LLC. The notes are guaranteed by Burford Capital, and the notes and the guarantee are secured on a senior lien basis by substantially all of the assets of Burford Capital Global Finance LLC and by the capital stock of certain subsidiaries of Burford Capital, in each case subject to certain exceptions. 

The issuance – which was achieved in less than six hours – was well-received by the market. The order book was around ten times oversubscribed, and the coupon was materially reduced from initial indications. 

The Ogier team was led by partner Bryon Rees and counsel Michelle Watson Bunn, with support from associate Raphael Chitambira. 

Ogier's Corporate law experts in Guernsey worked closely with lead US counsel Cravath, Swaine & Moore LLP, as well as White & Case LLP for the initial purchasers and Alston & Bird LLP for the trustee and collateral agent. 

Ogier has advised Burford Capital on several debt offerings in recent years.

Burford Capital is the leading global finance and asset 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 New York Stock Exchange and the London Stock Exchange, and it works with companies and law firms around the world from its global network of offices.