Burford has announced a further sale from the Petersen case, the third in the last six months. On this occasion, they have sold 15% of the exposure for $66m, giving an implied value on the whole case of $440m. This is a 10% uplift on the value given by the previous sales, which was $400m. Having reduced their retained exposure to 75%, Burford have made commitments to keep at least 65% until the end of 2018 and at least 50.1% beyond that.
14 Jun 2017
Positive judgement from the secondary market
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Positive judgement from the secondary market
Burford Capital Limited (BUR:LON) | 1,254 -112.8 (-0.7%) | Mkt Cap: 2,741m
- Published:
14 Jun 2017 -
Author:
Brian Moretta -
Pages:
6
Burford has announced a further sale from the Petersen case, the third in the last six months. On this occasion, they have sold 15% of the exposure for $66m, giving an implied value on the whole case of $440m. This is a 10% uplift on the value given by the previous sales, which was $400m. Having reduced their retained exposure to 75%, Burford have made commitments to keep at least 65% until the end of 2018 and at least 50.1% beyond that.