Burford Capital Share Discussion Threads

[donald pond] 17/1/2024 08:45

https://x.com/donaldpond6/status/1747534056600772781?s=46&t=YfR7OyhMlqZLtI-h86iCxA

[dgdg1] 17/1/2024 08:42

Donald, do you have a link to Bloomberg where they say it's for a tender offer, I couldn't find it. Also it seems strange that they would reveal more to Bloomberg than what they put in the RNS, and why wouldn't they put this information in the RNS? Actually I found the announcement that it's for "general corporate purposes" a bit disconcerting. They could easily have said it's for investment in more cases as they have huge demand for investment, but they didn't, which makes it sound like a cash-flow problem. Not that it's necessarily a disaster as it's probably just short term timing issue between funds arriving and going out, but still a bit of a negative. (Unless it really is to fund a buyback.)

[donald pond] 17/1/2024 08:27

I sold my traders on the US open yesterday. Bought half of them back at 1125. Being more patient with the rest

[donald pond] 17/1/2024 08:12

They said on Bloomberg the raise is to fund a tender offer for existing notes and pay off their RCF.

[ali47fish] 17/1/2024 07:48

djerry... reversing effects etc how is tjis relevant to bur

[djderry] 17/1/2024 07:16

Upsizing to $275 million of seven year notes at 8.25%,business as usual.

[djderry] 16/1/2024 22:19

Excellent news from the UK justice secretary that the UK government will reverse the effects of the Supreme Court in the PACCAR issue ' at the first legislative opportunity'.Well done Alan!

[chester9] 16/1/2024 13:07

BURFORD CAPITAL ANNOUNCES PRIVATE OFFERING OF SENIOR NOTES Burford Capital Limited ("Burford" or "Burford Capital"), the leading global finance and asset management firm focused on law, today announces the planned private offering of $200.0 million aggregate principal amount of additional 9.250% senior notes due 2031 (the "Additional Notes") by its indirect, wholly owned subsidiary, Burford Capital Global Finance LLC (the "Issuer"), subject to market and other conditions. The Additional Notes will be guaranteed on a senior unsecured basis by Burford Capital as well as Burford Capital Finance LLC and Burford Capital PLC, both indirect, wholly owned subsidiaries of Burford Capital (such guarantees, together with the Additional Notes, the "Securities"). There is $400.0 million aggregate principal amount of the Issuer's 9.250% senior notes due 2031 (the "Initial Notes") outstanding as of the date hereof. If issued, the Additional Notes will be issued as "Additional Notes" under the indenture pursuant to which the Issuer previously issued the Initial Notes, will have identical terms to the Initial Notes (other than with respect to the date of issuance, the issue price and the first interest payment date) and will be treated as a single class for all purposes under such indenture. Burford Capital intends to use the net proceeds from the offering of the Securities for general corporate purposes.

[extrader] 15/1/2024 17:58

Ashmore's latest re Argentina

Argentina: The IMF reached a staff-level agreement to lend USD 4.7bn to Argentina. This allows President Milei and his cabinet to service upcoming debt payments, as they pursue major reforms. In a press release announcing the agreement, the IMF shared some amended programme targets, which includes a primary surplus of 2.0% in 2024, a build-up of reserves of around USD 10.0bn, and the elimination of monetary financing from the central bank to the Treasury. The IMF added that Milei's “ambitious stabilization plan” is expected to boost net foreign reserves to USD 10.0bn by the end of the year, with USD 2.7bn already accumulated in December. In economic news, industrial production fell by a yoy rate of 4.9% in November, down from -0.8% in October and below consensus -2.0%. CPI inflation surged to 25.5% month-on-month (mom) (211% yoy) in December from 12.8% prior (161% yoy), but came in below consensus at 30.0% (222% yoy).

[laughton] 15/1/2024 16:52

Extrader - assuming you mean this:-

hxxps://www.burfordcapital.com/eu/insights-news-events/burford-quarterly/2024-issue-1/cessna-legal-finance-case-study/

Then just put in any made up name in the Company Name box and then your email address in the Email box.

[tradertrev] 15/1/2024 16:46

Alan Bates on his way to another win...

[extrader] 15/1/2024 15:55

Thanks for the suggestion.

The system required a corporate email, which I don't have.

I've written to BUR asking that this info be made available to me (and others in my position) in our capacity as shareholders.

Maybe it's accessible somewhere else on the BUR website, but it's not obvious to me...

ATB

[laughton] 14/1/2024 17:41

Just make up a name or some initials and put them in the company name box.

Worked for me.

[extrader] 14/1/2024 17:06

Thanks for this.

I don't seem to be able to access this without a corporate email.
Surely this should be available to ordinary shareholders, also ?

DAK?

[donald pond] 14/1/2024 16:39

https://x.com/lubosspousta/status/1746512429511475715?s=46&t=YfR7OyhMlqZLtI-h86iCxAInteresting piece on an actual enforcement case Bur have "won" recently

[rar100] 14/1/2024 15:50

re: Lomax99 - Latin Finance excerpt.

“Argentina will comply with its commitments and will always respect its contracts, and will always respect the decision of justice in all orders and under all circumstances,”; presidential spokesman Manuel Adorni said at the time, adding that alternatives for making the payment would be studied.

The first bit is laughable, the ending predictable. They can study until the cows come home unless prodded onto action. It's more stalling. So what can Burford actually do to get some cash before many more years go by, i.e. get cash within weeks?

Argie lawyers just want this to go on & on, doubtless they do get paid.

[tightfist] 13/1/2024 21:21

Putting aside the Burford specifics, the ultra-high profile David (Subs) vs Goliath (PO, Fujitsu) victor aspects should do enduring wonders for the image of Litigation Finance - and the shaping of U.K. legislation.

[lomax99] 13/1/2024 17:01

Argentina faces asset seizures in YPF casehttps://latinfinance.com/daily-brief/2024/01/11/argentina-faces-asset-seizure-in-ypf-case/A bigger problem for Argentina is that, as long as the judgement remains unpaid, it could make it hard for the sovereign to sell bonds in international markets if investors fear the country's repayment capacity could be hampered or its payments seized. It could also slow efforts by the country's new right-wing president, Javier Milei, to privatize the 51% stake in YPF as he has said he plans to do.

[lomax99] 13/1/2024 16:57

Burford can now request asset seizures:Https://buenosairesherald.com/politics/judiciary/ypf-expropriation-trial-burford-can-now-request-asset-seizures

[jockthescot75] 13/1/2024 16:51

I agree DJDerry. And referenced on the front page too!
From memory, didn’t Chris Bogart mention that the UK decision against litigation funding didn’t affect Burford given the focus away from class actions?

Jock.

[djderry] 13/1/2024 14:45

Nice to read the Alan Bates'article in the weekend FT.I had already read it online but nice to see it in the paper proper!
Normal,obvious stuff,the necessity for litigation finance to fund meritorious claims that would otherwise be suffocated by deep-pocketed adversaries.
Remember,most people once believed the earth was flat.When an opposing view was first put forward,it was treated with anger,wrath ( burn them at the stake!)incredulity and suspicion.
Then,slowly, with all the mounting scientific evidence, a kind of grudging acceptance,allowing sane people to have their say without the cries of 'Off with their heads' resounding in their soon to be lost ears.
That's where we almost are today.
Imagine what the company will be worth when the market actually accepts the uncorrelated returns on offer!

[nigelpm] 13/1/2024 10:25

Agreed. Best example I've seen in a while of buying real hidden value

[kuk1doh] 13/1/2024 09:16

That article reads like the Argentine public are being positioned and softened up for a settlement deal. For all LTHs who have stayed invested here for years because they see the value that can be unlocked by the business model, not much longer to wait I feel.

[nigelpm] 12/1/2024 20:55

hxxps://www.clarin.com/economia/juicio-ypf-alertan-sentencia-puede-complicar-programa-economico-milei_0_1rIw1yt0pv.html

[rider75] 12/1/2024 20:20

Mqy I ask you to attach some article about this pari passu doctrins thing? If thats a possible way, Arg will not be able to gather any capital from abroad by issuing new bonds.