Financing ·
PRAA prices $400M of 8.5% senior notes due 2033 to repay revolving credit facility borrowings
PRAAPra Group Inc
PRA Group, Inc. priced a private offering of $400.0 million aggregate principal amount of 8.500% senior notes due in 2033 on September 29, 2026. The transaction is exempt from registration under the Securities Act and was offered to qualified institutional buyers under Rule 144A and investors outside the U.S. under Regulation S. Closing is expected around October 2, 2026, subject to customary conditions. The notes are guaranteed on a senior unsecured basis by existing and future domestic subsidiaries that borrow or guarantee under the company's North American Credit Agreement. PRA Group intends to use the net proceeds along with available cash to repay approximately $400.0 million of outstanding borrowings under its North American revolving credit facility. PRA Group, Inc. is a global leader in acquiring and collecting nonperforming loans.