Burford's High Stakes Gamble: Can Refinancing Tame the Beast of Debt? Burford Capital has chosen to refinance its $400 million 2028 notes with new, higher interest 2029 senior secured notes.
The company is issuing $300 million in replacement debt at an 8% coupon, a move that could either alleviate some pressure on Burford's finances or exacerbate its problems.
The decision to refinance ahead of maturity may seem prudent, given the unpredictability of court proceedings and settlements.