PRA Group Prices $400 Million Senior Notes due 2033

By Greg Peters • Wednesday, September 30 10:51 • Permanent Link

PRA Group priced $400 million of 8.500% senior notes due 2033 on Sept. 29, 2026, with the offering expected to close around Oct. 2.

The company said it plans to use the net proceeds, together with available cash, to repay about $400 million of borrowings on its North American revolving credit facility. The notes will be guaranteed by the company’s existing and future domestic subsidiaries that are borrowers or guarantors under its North American credit agreement.

The new notes carry a 2033 maturity, extending PRA Group’s debt profile beyond its current revolving facility borrowings. Following these announcements, the company's shares moved -3.04%, and are now trading at a price of $19.44. For the full picture, make sure to review PRA GROUP INC's 8-K report.

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