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Burford Bond Issue.pdf

burford-19-may-2017.pdf

🔗 Source: hardmanandco.com

📊 Size: 198 KB

👤 Author: Brian Moretta

⬇️ Downloads: 107

Summary

Burford Capital's new retail bond issue raised £175m, with a 5% coupon, and was oversubscribed, closing less than a week after opening. The net proceeds of £172.8m will be used to repay a loan note and invest in the business. The company's trading update is expected to show strong investment opportunities, and its balance sheet will have gross debt of $471m post-issue. The demand for the bond issue reaffirms Burford's good value rating, with a prospective P/E of 14.2 times and 17.5% RoE. Risks include revenue volatility due to large investments, but the company's diversified portfolio and strong growth metrics are expected to continue delivering good returns.

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Description

Burford Capital's new retail bond issue raised £175m, with a 5% coupon, and was oversubscribed, closing less than a week after opening.

Technical Information

File Format: PDF
File Size: 198 KB
Pages: 4
Language: EN
Author: Brian Moretta
Total Downloads: 107
Last Updated: 1 week ago

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